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8-K: Verb Technology Announces that Nasdaq Has Granted the Company an Additional 180 Days to Return to Compliance with the Bid Price Rule

SEC announcement ·  May 2 08:03
Summary by Moomoo AI
Verb Technology Company, Inc. (Verb Technology) has received an additional 180-day grace period from the Nasdaq Capital Market to regain compliance with the minimum bid price rule, extending the deadline to October 28, 2024. The company's common stock had previously fallen below the $1.00 minimum bid price for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). To maintain its listing, the stock's bid price must meet or exceed $1.00 for at least 10 consecutive business days before the new deadline. Verb Technology's financial health has improved, as evidenced by its March 31, 2024, balance sheet showing approximately $14 million in shareholder equity, a significant increase from the previous year. The company also reported a substantial increase in cash and a decrease in debt, positioning itself...Show More
Verb Technology Company, Inc. (Verb Technology) has received an additional 180-day grace period from the Nasdaq Capital Market to regain compliance with the minimum bid price rule, extending the deadline to October 28, 2024. The company's common stock had previously fallen below the $1.00 minimum bid price for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). To maintain its listing, the stock's bid price must meet or exceed $1.00 for at least 10 consecutive business days before the new deadline. Verb Technology's financial health has improved, as evidenced by its March 31, 2024, balance sheet showing approximately $14 million in shareholder equity, a significant increase from the previous year. The company also reported a substantial increase in cash and a decrease in debt, positioning itself for sustained operations without a 'Going Concern' opinion. These achievements were highlighted in a press release issued on May 2, 2024, following the Nasdaq's notice of the extension. Verb Technology, which operates the MARKET.live social shopping platform, has undergone a comprehensive restructuring, recapitalization, and has reduced operating costs to strengthen its financial position and business prospects.

This announcement is a separate document:

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