AI Financial Corp (AIFC): Nasdaq/NYSE listing notice — JanOne receives Nasdaq delisting notice for failing minimum stockholders' equity requirement

AI Financial Corp

Received Nasdaq notice April 16, 2024 for non-compliance with Listing Rule 5550(b)(1) requiring minimum $2.5M stockholders' equity.
No immediate delisting; Company has 45 days to submit a compliance plan to Nasdaq.
If plan accepted, Nasdaq may grant up to 180 calendar day extension to regain compliance.
Company has not completed internal analysis; considering actions to include in plan.
If plan rejected, common stock subject to delisting with right to appeal.

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

AI Financial Corp 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 16, 2024, JanOne Inc. (the “Company”) received a notice (the “Nasdaq Notice”) from The NASDAQ Stock Market (“Nasdaq”) that the Company does not presently comply with Nasdaq’s Listing Rule 5550(b)(1) that requires the Company to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. The Nasdaq Notice does not have any immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market and the Company has 45 calendar days from the date of the Nasdaq Notice to submit a plan to Nasdaq to regain compliance with Nasdaq’s continued listing rules.

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Source: SEC EDGAR

accession 0001628280-24-017126

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