SMART FOR LIFE, INC.: Nasdaq/NYSE listing notice — Smart for Life receives Nasdaq delisting notice; equity deficiency of $951,836 vs. $2.5M minimum

SMART FOR LIFE, INC.

Stockholders' equity at Sept 30, 2023 was $951,836, below the $2,500,000 minimum for Nasdaq Capital Market.
Company is under a mandatory panel monitor until June 7, 2024, precluding a standard 180-day grace period.
Nasdaq staff determined to delist unless Company requests a hearing; Company plans to timely appeal.
At hearing, Company will present a plan to regain compliance and seek an extension.
No assurance that Nasdaq will accept the plan or that compliance will be regained.

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 1.0

SMART FOR LIFE, 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

December 5, 2023, the Company received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the Nasdaq stockholders’ equity requirement of $2,500,000 for continued listing on The Nasdaq Capital Market as set forth in Listing Rule 5550(b)(1) (the “Equity Rule”), given that the Company’s Form 10-Q for the period ended September 30, 2023 evidenced stockholders’ equity of $951,836. As previously disclosed, the Company is subject to a mandatory panel monitor until June 7, 2024, which requires the staff of Nasdaq to issue a delist

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Source: SEC EDGAR

accession 0001213900-23-094381

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