Lucy Scientific Discovery, Inc.: Nasdaq/NYSE listing notice — Nasdaq warns Lucy Scientific of potential delisting due to equity below $2.5M

Lucy Scientific Discovery, Inc.

Stockholders' equity as of Dec 31, 2023 was ~$81,158 vs $2.5M minimum required.
Company has 45 days to submit compliance plan; if accepted, extension to Aug 14, 2024.
Also facing bid price non-compliance; 1-for-10 reverse stock split effective Feb 26, 2024.
No immediate delisting, but failure could result in trading on OTC Markets.

Key facts

Extracted from this filing and checked against the source text.

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

Lucy Scientific Discovery, 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

$2.5 million (the “ Minimum Stockholders’ Equity Requirement ”). As reported in its Form 10-Q, the Company’s stockholders’ equity as of December 31, 2023, was approximately $81,158. In addition, the Company did not meet the alternatives of market value of listed securities or net income from continuing operations as of the date of the Letter. In accordance

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Source: SEC EDGAR

accession 0001213900-24-016520

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