cbdMD receives NYSE American delisting notice for equity shortfall; must submit compliance plan by July 5, 2024

cbdMD, Inc.

Stockholders' equity was $3.1M as of March 31, 2024, below $4M minimum required by Section 1003(a)(ii).
Company reported losses in three of four most recent fiscal years ended Sep 30, 2023.
Must submit compliance plan by July 5, 2024; has until Dec 5, 2025 to regain compliance or face delisting.
Seeking shareholder approval to convert Preferred Stock and $2.7M accrued dividend into equity to boost equity.
Trading continues under symbols with '.BC' designation for 'below compliance'; no immediate impact on operations.

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