MGO Global Inc.: Nasdaq/NYSE listing notice — MGO Global receives Nasdaq delisting notice for equity shortfall; submits plan due May 20

MGO Global Inc.

Nasdaq notified MGO Global on April 5, 2024 of non-compliance with Listing Rule 5550(b)(1) requiring minimum $2.5M stockholders' equity.
Company reported stockholders' equity of $921,747 in Dec 31, 2023 Form 10-K, far below the $2.5M threshold.
MGO has 45 days (until May 20, 2024) to submit a compliance plan; if accepted, Nasdaq may grant up to 180-day extension.
If plan not accepted, MGO can appeal to a Nasdaq Hearings Panel; common stock continues trading under MGOL during process.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

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

MGO Global Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

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

Exact text from the filing

April 5, 2024, MGO Global Inc. (“MGO” or the “Company”) received a notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that the Company is no longer in compliance with the equity standard for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000 under the equity standard. Because the Company’s Annual Report on Form 10-K for the period ended December 31, 2023 reported stockholders’ equity of $921,747, and as of April 5, 2024 the Co

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Source: SEC EDGAR

accession 0001493152-24-014068

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