Summary by Moomoo AI
SenesTech, Inc., a company listed on The Nasdaq Stock Market, announced that it has received a notification from Nasdaq on July 31, 2024, regarding non-compliance with the exchange's audit committee requirements following the departure of Delphine François Chiavarini from the Board and Audit Committee effective July 11, 2024. The Nasdaq Listing Rule 5605 mandates that the Audit Committee must have at least three independent directors. SenesTech has been granted a cure period to regain compliance, which lasts until the earlier of their next annual stockholders' meeting or July 11, 2025, or by January 7, 2025, if the next annual meeting occurs before that date. The company is actively seeking a qualified independent board member to fulfill the audit committee criteria and reestablish compliance within the given timeframe. The notification from Nasdaq does not immediately affect the listing of SenesTech's common stock, and the company intends to use the cure period to address the issue. However, SenesTech acknowledges that there is no guarantee of regaining or maintaining compliance with Nasdaq's continued listing requirements.