NLS Pharmaceutics submits plan to regain Nasdaq listing compliance

NLS Pharmaceutics has submitted the Company’s plan, on time, to regain compliance with Nasdaq Listing Rule 5550(b)(1). On January 9, 2024, NLS received a letter from the Listing Qualifications staff of Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was no longer in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000. If the plan is approved, Nasdaq can grant an extension of up to 180 calendar days from the date of the letter, or until July 8, 2024, to evidence compliance.