Minim receives noncompliance notification from Nasdaq

Minim announced that it received a letter from Nasdaq notifying the company that the staff had determined that the company did not meet the terms of the minimum stockholders’ equity requirement of at least $2.5M for continued inclusion on Nasdaq pursuant to Nasdaq Listing Rule 5550. The company announced that it appealed the staff determination from Nasdaq, to a panel to delist the company’s securities from Nasdaq because of the company’s stockholders’ equity requirement. The hearing request to the panel will stay the suspension of the company’s securities and the filing of the Form 25-NSE pending the panel’s decision. In connection with its request for a hearing, the company has also requested that the staff determination be further stayed pending the resolution of the company’s appeal.