KULR Technology receives noncompliance notification from NYSE

KULR Technology announced it received a notice from the staff of NYSE that KULR was not in compliance with the Exchange’s continued listing standards under Section 1003 and of the NYSE American Company Guide. Section 1003 requires a listed company to have stockholders’ equity of $2M or more if the listed company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years, Section 1003 requires a listed company to have stockholders’ equity of $4M or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years, and Section 1003 requires a listed company to have stockholders’ equity of $6M or more if the listed company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. In order to regain compliance with Section 1003, the company is now subject to the procedures and requirements of Section 1009 of the NYSE American Company Guide and has until January 19, 2024, to submit a plan of actions it has taken or will take to regain compliance with the continued listing standards by June 20, 2025.