Forward Industries, Inc. (FWDI): Nasdaq/NYSE listing notice — Forward Industries receives Nasdaq equity deficiency notice; stock delisting risk escalates

Forward Industries, Inc.

Stockholders' equity was $2.312M as of Dec 31, 2023, below the $2.5M minimum required by Nasdaq Listing Rule 5550(b)(1).
Company already faces potential delisting for bid price non-compliance; Nasdaq hearing scheduled for April 9, 2024.
Equity deficiency will be considered by the Panel alongside the bid price issue; no assurance of continued listing.
Common stock continues trading on Nasdaq Capital Market pending the Panel's written decision.

Key facts

Extracted from this filing and checked against the source text.

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

Forward Industries, Inc. 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

February 22, 2024, Forward Industries, Inc. (the “Company”) received notice (the “Equity Deficiency Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company’s stockholders equity as reported in the Company’s Form 10-Q for the period ended December 31, 2023 (the “Form 10-Q”), did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2,500,000 (“Nasdaq Stockholders’ Equity Rule”). As reported in the Company’s Form 10-Q, the stockholders’ equity of the Company was $2,312,852 as of D

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20 listing & compliance notices filed in the last 30 days. Browse all listing & compliance notices →

Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-001215

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