Summary by Moomoo AI
Applied UV, Inc. has reported a notice of non-compliance with Nasdaq Listing Rule 5605, received on May 15, 2024, due to the resignation of Eugene Burleson from the Board of Directors, leaving the Audit Committee with only two independent directors instead of the required three. The company, headquartered in Mount Vernon, NY, is listed on The Nasdaq Stock Market LLC with common stock under the symbol AUVI and 10.5% Series A Cumulative Perpetual Preferred Stock under AUVIP. Applied UV has been granted a cure period until the earlier of its next annual shareholders' meeting or May 7, 2025, to resolve the issue, with a deadline of November 4, 2024, if the annual meeting occurs before that date. The company plans to elect an additional independent director to the Audit Committee within this timeframe. This event has not affected the trading of Applied UV's common stock on The Nasdaq Capital Market. Additionally, on May 14, 2024, Christopher Kochuba was appointed to the Audit Committee and compensation committee of the Board.