Lucy Scientific Discovery, Inc.: Nasdaq/NYSE listing notice — Nasdaq to suspend trading of Lucy Scientific on May 16; CFO and director resign

Lucy Scientific Discovery, Inc.

Nasdaq to suspend trading of LSDI common shares on May 16, 2024 due to stockholders' equity of ~$81k, below $2.5M minimum.
Company plans to appeal delisting determination to Nasdaq Hearings Panel; hearing will stay suspension pending outcome.
Director Livio Susin resigned effective April 25, 2024; no disagreement cited.
CFO Brian Zasitko resigned effective May 17, 2024; CEO Richard Nanula remains.

item 3.01 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Livio Susin

Director

Lucy Scientific Discovery, Inc.

Effective: 2024-04-25
Filed: May 9, 2024, 7:59 PM ET

On April 25, 2024, Livio Susin, a member of the Board of Directors of the Company, resigned, effective immediately.

Departed

Brian Zasitko

Chief Financial Officer

Lucy Scientific Discovery, Inc.

Effective: 2024-05-17
Filed: May 9, 2024, 7:59 PM ET

On May 3, 2024, Brian Zasitko, Chief Financial Officer of the Company, resigned, effective May 17, 2024.

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 delisting notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: delisting 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. On May 7,

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Livio Susin resigned as Director at Lucy Scientific Discovery, Inc..

Action: resigned
Role: Director

Exact text from the filing

On April 25, 2024, Livio Susin, a member of the Board of Directors of the Company, resigned, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Brian Zasitko resigned as Chief Financial Officer at Lucy Scientific Discovery, Inc..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On May 3, 2024, Brian Zasitko, Chief Financial Officer of the Company, resigned, effective May 17, 2024.

View on SEC.gov

8 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Source: SEC EDGAR

accession 0001213900-24-041389

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