Nexalin Technology, Inc. (NXL): Nasdaq/NYSE listing notice — Nexalin receives Nasdaq delisting notice; bid price and equity rules non-compliant

Nexalin Technology, Inc.

Nasdaq notified Nexalin on May 10, 2023 of bid price deficiency; 180-day cure period expired Nov 6, 2023 without compliance.
Second 180-day period denied because Company no longer meets $5M minimum stockholder equity initial listing requirement.
Company appealed to Nasdaq Hearings Panel; trading stay granted while appeal pending.
Company plans to submit a compliance plan addressing bid price and equity requirements.

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

Nexalin Technology, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

November 7, 2023, the Company submitted a letter to NASDAQ requesting a second 180-day period in order to regain compliance with NASDAQ Rule 5550(a)(2). The Company stated in that letter that it believed it would be able to cure the deficiency and increase its stock price to above $1.00 per share pursuant to a plan set forth in such letter. On November 7, 2023, the Company received written notice from the Nasdaq Listing Qualifications Department (the “Staff”) that the Company was not eligible for an additional 180 calendar day compliance period because the Company no longer complied with Nasda

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Nexalin Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-23-007308

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