ID Auto, Inc.: Nasdaq/NYSE listing notice — Parts iD receives NYSE American deficiency notice for low stockholders' equity

ID Auto, Inc.

Deficiency letter dated May 23, 2023 cites stockholders' equity below $2M and $4M thresholds with recurring losses.
Company must submit a compliance plan by June 22, 2023; must regain compliance by November 23, 2024.
Common stock will trade under symbol 'ID.BC' (below compliance) during the cure period.
If delisted, company warns of reduced liquidity, market price, and ability to raise equity financing.
Management intends to submit a plan but no assurance of acceptance or ultimate compliance.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

ID Auto, Inc. received a nyse_american deficiency notice notice regarding stockholders equity (rules 1003(a)(i), 1003(a)(ii)).

Exchange: nyse american
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 1003(a)(i), 1003(a)(ii)

Exact text from the filing

May 23, 2023, Parts iD, Inc., a Delaware corporation (the “Company”) received a letter (the “Deficiency Letter”) from the staff of the NYSE American (the “Exchange”) indicating that the Company does not meet certain of the Exchange’s continued listing standards as set forth in Section 1003(a)(i) and (ii) of the Exchange Company Guide in that the Company has stockholders’ equity of less than $2,000,000 and have incurred losses from continuing operations and/or net losses during two out of three of the Company’s most recent fiscal years, and that the Company has stockholders’ equity of less than

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Source: SEC EDGAR

accession 0001213900-23-043577

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