INTRUSION INC (INTZ): Nasdaq/NYSE listing notice — Intrusion receives Nasdaq notice for MVLS below $35M; 180-day cure period

INTRUSION INC

Nasdaq Staff notified Intrusion that its MVLS was below $35M for 30 consecutive business days, violating Listing Rule 5550(b)(2).
Company also fails to meet alternative listing standards: Equity Standard (5550(b)(1)) and Net Income Standard (5550(b)(3)).
Compliance period runs until October 25, 2023; stock continues trading on Nasdaq Capital Market during this time.
If MVLS closes at or above $35M for 10 consecutive business days before the deadline, compliance will be confirmed.
Intrusion intends to monitor MVLS and may evaluate options to regain compliance, but no assurance of success.

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

INTRUSION INC received a nasdaq deficiency notice notice regarding market value (rules 5550(b)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: market value
Rules: 5550(b)(2)

Exact text from the filing

April 28, 2023, Intrusion Inc. (the “Company”) received written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities ("MVLS") was below the minimum of $35 million required for continued listing on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the “Market Value Standard”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rules 5550(b)(1) (Equity S

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Source: SEC EDGAR

accession 0001683168-23-002845

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