RYVYL Inc. (RVYL): Nasdaq/NYSE listing notice — RYVYL receives Nasdaq notice for non-compliance with MVLS standard; plans to appeal

RYVYL Inc.

Nasdaq notified RYVYL that its common stock MVLS was below the $35M minimum for 30 consecutive business days.
Company has until Oct 26, 2023 to request a hearing and pay a $20,000 fee to appeal the delisting determination.
If no appeal, trading in RVYL common stock would be suspended at the open on Oct 30, 2023.
Company intends to timely request a hearing, which will stay suspension pending the Hearing Panel's decision.
There is no assurance the Hearing Panel will rule in the Company's favor.

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

RYVYL Inc. received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

October 19, 2023, the Company received a determination letter (the “Letter”) from the Staff of Nasdaq stating that the Company is not in compliance with the Market Value of Listed Securities (“MVLS”) Standard, since the Company’s common stock, par value $0.001, was below the $35 million minimum MVLS requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(b)(2) and had not been at least $35 million for the previous 30 consecutive business days. As such, the Letter stated that the Staff would commence delisting proceedings against the Company. The Company has been provided wit

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Source: SEC EDGAR

accession 0001185185-23-001079

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