NuZee receives Nasdaq notification

NuZee announced that it has received a notice from the Listing Qualifications staff of The Nasdaq Stock Market notifying the company that the company’s stockholders’ equity as reported in its Annual Report on Form 10-K for the period ended September 30, 2023, did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1) for the Nasdaq Capital Market, which requires that a listed company’s stockholders’ equity be at least $2,500,000. In its Form 10-K, the company reported stockholders’ equity of $1,674,357, and, as a result, does not currently satisfy Nasdaq Marketplace Rule 5550(b)(1).