Mangoceuticals, Inc., a Texas-based company trading under the symbol MGRX on the Nasdaq Stock Market, has been granted a 180-day extension until October 24, 2024, to meet the Nasdaq's minimum bid price requirement. The company had previously been notified of non-compliance with Nasdaq's minimum bid price and stockholders' equity requirements. Mangoceuticals reported stockholders' equity of $1,354,821 in the quarter ended September 30, 2023, which was below the Nasdaq's minimum requirement of $2,500,000. However, following certain transactions, the company believes it has regained compliance with the stockholders' equity rule. The company has also been advised that failure to demonstrate compliance upon filing its next periodic report may lead to delisting. To address the minimum bid price requirement, Mangoceuticals may consider a reverse...Show More

Mangoceuticals, Inc., a Texas-based company trading under the symbol MGRX on the Nasdaq Stock Market, has been granted a 180-day extension until October 24, 2024, to meet the Nasdaq's minimum bid price requirement. The company had previously been notified of non-compliance with Nasdaq's minimum bid price and stockholders' equity requirements. Mangoceuticals reported stockholders' equity of $1,354,821 in the quarter ended September 30, 2023, which was below the Nasdaq's minimum requirement of $2,500,000. However, following certain transactions, the company believes it has regained compliance with the stockholders' equity rule. The company has also been advised that failure to demonstrate compliance upon filing its next periodic report may lead to delisting. To address the minimum bid price requirement, Mangoceuticals may consider a reverse stock split, which was previously approved by shareholders. The company's common stock will be subject to delisting if compliance is not regained within the extension period. Additionally, Mangoceuticals has corrected errors in a previously filed Certificate of Designations regarding its Series C Preferred Stock and has announced the date for its 2024 Annual Meeting of Stockholders.