INTELLIGENT BIO SOLUTIONS INC. (INBS): Nasdaq/NYSE listing notice — INBS regains Nasdaq compliance on stockholders' equity, but faces ongoing monitoring

INTELLIGENT BIO SOLUTIONS INC.

Nasdaq confirmed compliance with $2.5M min. equity requirement after INBS reported $4.24M equity as of Oct 31, 2023.
Equity increase primarily from public offering that closed Oct 4, 2023.
Nasdaq warned that failure to maintain compliance in next 10-Q (Dec 31, 2023) could lead to delisting.
Company still does not meet alternative listing standards (market value of $35M or net income of $500K).

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

INTELLIGENT BIO SOLUTIONS INC. received a nasdaq compliance regained notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: compliance regained
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

January 2, 2024, to submit a plan to regain compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1). On December 15, 2023, the Company submitted a compliance plan to Nasdaq that included a pro forma balance sheet as of October 31, 2023 (the “Balance Sheet”). The Balance Sheet showed that the Company’s stockholders’ equity as of October 31, 2023, was $4,240,629, which was primarily the result of the of a public offering of the Company’s securities that closed on October 4, 2023. The Balance Sheet was also attached to a Current Report on Form 8-K filed b

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INTELLIGENT BIO SOLUTIONS INC. filing history →

Source: SEC EDGAR

accession 0001493152-24-001103

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