AIRWA INC. (YYAI): Nasdaq/NYSE listing notice — Nasdaq grants Connexa continued listing with strict deadlines; bid price non-compliance unresolved

AIRWA INC.

On April 12, 2023, Nasdaq notified Connexa it failed to regain bid price compliance by April 10, 2023, triggering delisting proceedings.
Nasdaq Hearings Panel granted continued listing subject to filing delinquent 10-K by May 31, 2023, and 10-Qs by June 30, 2023.
Company must demonstrate compliance with independent director, audit, and compensation committee requirements by July 15, 2023.
Panel has not yet ruled on extension until October 2023 for bid price rule; if denied, delisting remains possible.
No assurance of timely filings or appointments; failure will lead to delisting from Nasdaq Capital Market.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

AIRWA INC. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2), 5810(c)(3)(A)

Exact text from the filing

April 12, 2023, Nasdaq notified the Company that the Panel had granted the Company’s request for continued listing on the Nasdaq had been granted subject to the following: 1. On or before May 31, 2023, the Company shall file the delinquent Form 10-K for the year ended April 30, 2022, with the SEC; 2. On or before June 30, 2023, the Company shall file all delinquent Forms 10-Q with the SEC; 3. On or before July 15th, the Company will demonstrate compliance with Listing Rules 5605(b)(1), 5605(c)(2) and 5605(d)(2) (majority independent director, audit committee and compensation committee composit

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Source: SEC EDGAR

accession 0001493152-23-012721

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