Mobiquity Technologies, Inc. (MOBQ): Nasdaq/NYSE listing notice — Nasdaq delists Mobiquity Technologies for equity non-compliance; trading suspended Dec 7

Mobiquity Technologies, Inc.

Nasdaq Panel concluded stockholders' equity likely below $2.5M minimum despite company's claim, citing burn rate.
Trading suspension on Nasdaq effective at open Dec 7, 2023; securities will quote on OTC Markets.
Company has 15 days to request Nasdaq Listing and Hearing Review Council review; evaluating whether to appeal.
Company previously received grace period until Nov 14, 2023 to regain compliance with equity requirement.

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 0.95

Mobiquity Technologies, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)).

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

Exact text from the filing

December 5, 2023, the Company received a letter from the Panel notifying the Company, among other things, (a) that despite the Company’s claims of having regained compliance with a stockholder equity value of over $2.5 million, and its claims that it will see increased revenue in the new year, Nasdaq concluded that in light of the Company’s burn rate, the Company’s stockholder equity was below the minimum, and (b) that the Panel has determined to delist the Company’s securities from trading on Nasdaq, based on the Company’s historical financial information on expenses and burn rate, and the Pa

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Source: SEC EDGAR

accession 0001683168-23-008668

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