TON Strategy Co (TONX): Nasdaq/NYSE listing notice — Verb Technology regains Nasdaq equity compliance with $3.125M equity

TON Strategy Co

Stockholders' equity of $3.125M as of Dec 31, 2023, exceeds Nasdaq's $2.5M minimum for continued listing.
Compliance achieved via $3M Series C Preferred Stock issuance (3,000 shares, 10% dividend) and $5.5M debt reduction since June 30, 2023.
Nasdaq granted extension to Feb 14, 2024; company filed this 8-K to evidence compliance as of Feb 2, 2024.
Nasdaq will monitor future compliance; failure in subsequent periodic reports could trigger delisting.

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 0.97

TON Strategy Co received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: noncompliance notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

August 18, 2023, the Company received a notice from The Nasdaq Stock Market LLC (“NASDAQ”) indicating that it did not meet the minimum of $2,500,000 in stockholders’ equity required by NASDAQ Listing Rule 5550(b)(1) (the “Listing Rule”) for continued listing, or the alternatives of market value of listed securities or net income from continuing operations. Pursuant to the Listing Rule and the instructions from NASDAQ, on October 9, 2023 the Company submitted a plan to regain compliance with the Listing Rule and was given an extension until February 14, 2024 to evidence compliance through a pub

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Source: SEC EDGAR

accession 0001493152-24-004893

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