Cuentas Inc. (CUEN): Nasdaq/NYSE listing notice — Cuentas receives Nasdaq deficiency notice for shareholders' equity below $2.5M

Cuentas Inc.

As of June 30, 2023, shareholders' equity was $1.471M, below the $2.5M minimum required by Nasdaq Rule 5550(b)(1).
Company has until October 2, 2023 to submit a plan to regain compliance; Nasdaq may grant up to 180-day extension.
Company also fails alternative tests of market value of listed securities ($35M) and net income from continuing operations ($500K).
Failure to publicly disclose receipt of deficiency letter within 4 business days may result in trading halt.
Cuentas stock (CUEN) and warrants (CUENW) will be flagged as non-compliant on Nasdaq's website after 5 business days.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

Cuentas Inc. 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

ntas Inc.(Nasdaq: CUEN) (“the “Company”) received a deficiency letter from Nasdaq Regulation stating that based upon its Quarterly Report on Form 10-Q for the period ended June 30, 2023 which reported shareholders’ equity of $1,471,000, the Company was not in compliance with Nasdaq Marketplace Rule 5550(b)(1) which requires the Company to maintain shareholders’ equity of not less than $2,500,000 for continued listing on The Nasdaq Capital Market. Under Nasdaq Rules the Company has until October 2, 2023 (45 calendar days) to submit a plan to regain compliance. If its plan is accepted, Nasdaq ca

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Cuentas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-069062

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