SONIC FOUNDRY INC: Nasdaq/NYSE listing notice — Sonic Foundry notified by Nasdaq of non-compliance with $2.5M minimum stockholders' equity requirement

SONIC FOUNDRY INC

Stockholders' equity of $922,000 as of Dec 31, 2022, falls below Nasdaq's $2.5M minimum for continued listing.
Sonic Foundry has 45 days to submit a compliance plan; Nasdaq may grant an extension of up to 180 days.
Company also does not meet alternative listing standards: market value of listed securities or net income.

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 0.9

SONIC FOUNDRY 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

February 14, 2023, Sonic Foundry, Inc. (the “Company”) was notified by The Nasdaq Stock Market LLC (“Nasdaq”) that it is not in compliance with the requirement to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. Since its Form 10-Q for the period ended December 31, 2022, reported stockholders’ equity of $922,000, and as of February 10, 2023, the Company does not meet the alternatives of market value of listed securities or net income, as set forth in Nasdaq Listing Rule 5550(b)(1), the Company no longer complies with the Rule. In accordance with Nasdaq Listing R

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Source: SEC EDGAR

accession 0001437749-23-003774

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