NuZee receives Nasdaq notice of non-compliance

NuZee announced that on February 22, 2024, it received a notice from the Nasdaq Stock Market notifying NuZee that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because the company did not timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2023 with the SEC. The Notice has no immediate effect on the listing of the company’s stock on Nasdaq, and it states that the company is required to submit a plan to regain compliance with Rule 5250(c)(1) within 60 calendar days from the date of the Notice. If the plan is accepted by Nasdaq, then Nasdaq can grant the company up to 180 calendar days from the due date of the Form 10-Q to regain compliance.