Summary by Moomoo AI
Minim, Inc., a company listed on The Nasdaq Capital Market, has received a notification from Nasdaq's Listing Qualifications Department regarding non-compliance with the minimum stockholders' equity requirement for continued listing. The deficiency letter, dated January 11, 2024, indicated that Minim did not meet the $2,500,000 stockholders' equity threshold as per Nasdaq Listing Rule 5550(b)(1). In response, Minim submitted a Compliance Plan on March 13, 2024, which included a definitive merger agreement with e2Companies, LLC. This merger is expected to raise the stockholder's equity of the combined entity to over $500 million. On March 14, 2024, Nasdaq granted Minim an extension until June 23, 2024, to fulfill the Compliance Plan and resolve the equity shortfall. The report was officially filed with the SEC on March 15, 2024, by David Lazar of Minim, Inc.