Eqonex (OTCPK:EQOSQ) fell ~12% during market hours after the company announced the receipt of additional deficiency notice by Nasdaq.
The bid price of the digital assets financial services company's listed securities had closed at less than $1 per share over 30 consecutive business days from Jun. 7 to Jul. 20. The company has until Jan. 17, 2023, to regain compliance with the listing rule.
Nasdaq sent another notice to the company on Dec. 19 over the closing bid price having been below $0.10 for 13 consecutive trading days. The matter serves as an additional basis for delisting the shares.
EQOSQ is set to present its views on the additional deficiency at a hearing with the Nasdaq Hearings Panel.