VS Media regains compliance with Nasdaq listing standards

VS MEDIA (VSME) received formal notification from the Nasdaq Stock Market on July 2, that the Company has regained compliance with Nasdaq Listing Rule 5550(b). This rule requires the Company to meet at least one of the following standards: stockholders’ equity of at least $2.5M; market value of listed securities of at least $35M; or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years. The Nasdaq staff made this determination of compliance following the Company’s recent public offerings, announced on May 30, and June 6, which generated total gross proceeds of $9,176,100. As a result of these transactions, the Company satisfied the minimum stockholders’ equity requirement under Listing Rule 5550(b)(1), and the matter regarding its previous deficiency is now considered closed.