GridAI Technologies Corp. (GRDX): Nasdaq/NYSE listing notice — First Wave BioPharma receives Nasdaq deficiency notice for stockholders' equity below $2.5M

GridAI Technologies Corp.

Stockholders' equity of $881,960 as of June 30, 2023, below Nasdaq's $2.5M minimum.
Company has until Oct 2, 2023 to submit a plan to regain compliance.
If Nasdaq accepts plan, extension possible until Feb 13, 2024.
Company intends to submit a compliance plan but no assurance of acceptance.
Also failed alternative standards: market value $35M or net income $500K requirement.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

GridAI Technologies Corp. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

August 17, 2023, First Wave BioPharma, Inc. (the “Company”) received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, under Listing Rule 5550(b)(1), because the Company’s stockholders’ equity of $881,960 as reported in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2023 was below the required minimum of $2.5 million, and because, as of June 30, 2023, the Comp

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GridAI Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001104659-23-093483

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