Summary by Moomoo AI
On January 11, 2024, Minim, Inc., a company incorporated in Delaware and listed on The Nasdaq Capital Market under the trading symbol MINM, received a deficiency letter from Nasdaq's Listing Qualifications Department. The letter informed Minim that it does not meet the minimum stockholders' equity requirement of $2,500,000 for continued listing on The Nasdaq Capital Market, as per Nasdaq Listing Rule 5550(b)(1). Minim's Quarterly Report for the quarter ending September 30, 2023, showed stockholders' equity of only $135,637. The company has until February 26, 2024, to submit a Compliance Plan to regain compliance with the requirement. If the plan is accepted, Nasdaq may grant up to 180 days for Minim to demonstrate compliance. While Minim is exploring options to address the deficiency, there is no guarantee that the Compliance Plan will be accepted or that compliance will be achieved within the extension period. The notification from Nasdaq does not immediately affect the listing of Minim's common stock.