Forward Industries (FORD) has released an update to notify the public and investors about listing compliance status.
Forward Industries, Inc. is facing potential delisting from the Nasdaq as it has not met the minimum bid price requirement of $1.00 per share for over 30 consecutive days. The company was given an initial 180-day period to rectify this but failed to comply. It is now seeking a hearing to present a compliance plan and request an extension until July 29, 2024. While the company is exploring options to meet Nasdaq’s requirements, there is uncertainty about whether it can achieve compliance or if the Nasdaq will grant the extension needed to avoid delisting.
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For a comprehensive understanding of the announcement, you can read the full document here.
