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$Draganfly (DPRO.US)$ NEWS Draganfly to Showcase Cutting-Edg...
NEWS
Draganfly to Showcase Cutting-Edge Drone Technologies at XPONENTIAL 2024 in San Diego
Draganfly Inc. is set to participate in XPONENTIAL 2024, showcasing its latest drone innovations and technologies at booth #3818 in San Diego, CA. The company's CEO and COO will be in attendance, with CEO Cameron Chell speaking at the Law-Tech Connect™ panel. Draganfly also faces noncompliance issues with Nasdaq Listing Rule 5550(b)(1) due to a stockholders' equity deficiency, with a hearing scheduled for May 21, 2024.
Draganfly Inc. is facing noncompliance with the Nasdaq Listing Rule 5550(b)(1) due to a stockholders' equity deficiency, potentially leading to delisting from the Nasdaq Capital Market.
The company reported a stockholders' equity of C$407,716 (equivalent to $308,897) in its Form 20-F, falling short of the required minimum of $2,500,000 for continued listing on Nasdaq.
A hearing before an independent Nasdaq Hearings Panel is scheduled for May 21, 2024, to address the bid price deficiency and the Stockholders' Equity Rule deficiency. The outcome of the hearing will determine the company's continued listing on Nasdaq.
The Panel has the discretion to grant an extension period for the Stockholders' Equity Rule deficiency, potentially until October 2, 2024. However, there is no guarantee that the Panel will approve the company's compliance plan or that Draganfly will regain compliance with listing requirements.
The company reported a stockholders' equity of C$407,716 (equivalent to $308,897) in its Form 20-F, falling short of the required minimum of $2,500,000 for continued listing on Nasdaq.
A hearing before an independent Nasdaq Hearings Panel is scheduled for May 21, 2024, to address the bid price deficiency and the Stockholders' Equity Rule deficiency. The outcome of the hearing will determine the company's continued listing on Nasdaq.
The Panel has the discretion to grant an extension period for the Stockholders' Equity Rule deficiency, potentially until October 2, 2024. However, there is no guarantee that the Panel will approve the company's compliance plan or that Draganfly will regain compliance with listing requirements.
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