Reborn Coffee risks Nasdaq noncompliance as stockholders’ equity falls to 735,642
REBN•Nasdaq notice on stockholders’ equity deficiency
Nasdaq notified Reborn Coffee on Sept. 16 that it failed to meet the $2.5 million minimum stockholders’ equity requirement.
The quarterly filing deficiency was resolved after the June 30 10-Q was filed on Sept. 14, closing that matter.
Stockholders’ equity was $735,642 in the June 30 10-Q, below the Nasdaq Capital Market threshold.
The company has until Nov. 2 to submit a compliance plan; Nasdaq may grant up to 180 days to regain compliance.
The notice does not immediately affect the listing of the common stock.
