Verb Technology Company Inc (VERB) has released an update to notify the public and investors about listing compliance status.
After falling short of NASDAQ’s minimum stockholders’ equity requirement, a company faced potential delisting. To regain compliance, the company devised a plan and received an extension until February 14, 2024. By securing a $3 million investment through the sale of non-convertible preferred stock and significantly reducing its debt, the company improved its stockholders’ equity to $3.125 million. This financial rebound, combined with other strategic moves, has positioned the company to meet NASDAQ’s requirements, staving off the risk of delisting as it awaits further monitoring.
For further insights into VERB stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.