Know Labs, Inc. announced that they received a notification from the NYSE American stating that the company does not meet the minimum stockholders’ equity requirements after having reported losses over several fiscal years. They have a stockholders’ deficit of $4.6 million and have been in losses for five years. The company has until October 27, 2024, to submit a compliance plan with an aim to regain compliance by March 27, 2026. The NYSE American will allow them to continue listing if they accept the plan, with periodic reviews for compliance. If not accepted, delisting proceedings will begin. The Letter does not currently affect its stock trading or business operations.
Names mentioned: - Know Labs, Inc. - NYSE American - Ronald P. Erickson