SIMPPLE Ltd. announced on January 17, 2025, that it received letters from Nasdaq regarding non-compliance with two continued listing requirements. The company's stockholders’ equity of $950,980 for the period ended June 30, 2024, was below the Nasdaq minimum requirement of $2,500,000, as per Listing Rule 5550(b)(1).
Additionally, the company did not hold an annual meeting of shareholders within twelve months of its fiscal year-end, failing to comply with Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G). These deficiencies pose a risk to the company's continued listing on the Nasdaq Capital Market.
Simpple has been given 45 calendar days, until March 3, 2025, to submit a plan to regain compliance for both issues. If the plan is accepted, Nasdaq may grant an extension of up to 180 calendar days to evidence compliance.
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