iCoreConnect Inc.: Nasdaq/NYSE listing notice — iCoreConnect receives Nasdaq deficiency notice after director resignation; cure period until May 2025

iCoreConnect Inc.

Director Joseph Gitto resigned from board and audit committee on May 6, 2024, effective immediately.
Nasdaq notified company on May 8, 2024 of non-compliance with Listing Rule 5605 (majority independent board, three independent audit committee members).
Cure period runs until earlier of next annual shareholders' meeting or May 6, 2025 (or November 4, 2024 if meeting before November 4, 2024).
Company plans to appoint one or more independent directors to the board and audit committee within the cure period.
Notice has no immediate effect on listing or trading of ICCT common stock on Nasdaq Capital Market.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

iCoreConnect Inc. received a nasdaq noncompliance notice notice regarding board independence (rules 5605, 5605(b)(1)(A), 5605(c)(4)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: board independence
Rules: 5605, 5605(b)(1)(A), 5605(c)(4)

Exact text from the filing

May 8, 2024, the Company received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”), indicating that, as a result of Mr. Gitto’s resignation from the Board and Audit Committee, the Company is not currently in compliance with Nasdaq Listing Rule 5605, which requires that (i) a majority of the Board be comprised of independent directors and (ii) the Audit Committee is comprised of at least three independent directors. The Company currently has four directors, only two of which qualify as independent directors. In addition, the Audit Committee currently is comprised of o

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Source: SEC EDGAR

accession 0001477932-24-002686

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