Innovation Beverage Receives Nasdaq Compliance Notice
Innovation Beverage announced that the company received a notice from Nasdaq notifying the company that as it did not hold an annual meeting of shareholders within twelve months of the end of the company's fiscal year December 31, 2024, the company is not in compliance with Nasdaq Listing Rules 5620, 5810 and IM-5620. The notice stated that the company has 45 calendar days to submit a compliance plan in order to regain compliance and, if accepted, Nasdaq may grant an exception of up to 180 calendar days from the fiscal year end to regain compliance. IBG intends to submit a timely compliance plan and to hold an annual meeting of shareholders by March 31.
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Innovation Beverage Group Announces 5-for-1 Reverse Stock Split
- Reverse Stock Split Announcement: Innovation Beverage Group will implement a 5-for-1 reverse stock split effective January 30, 2026, reducing the number of ordinary shares from 3,470,331 to 694,066, which is expected to enhance the stock price and improve market perception.
- Exchange Information: Post-split, the company's ordinary shares will continue trading on The Nasdaq Capital Market under the new CUSIP number Q4933C208, ensuring investors can easily track their holdings.
- Market Positioning: The company focuses on developing and marketing a portfolio of 60 formulations across alcoholic and non-alcoholic beverages, with its successful brand Australian Bitters disrupting a 200-year market leader, showcasing strong competitive strength.
- Company Background: Established in 2018, Innovation Beverage Group has its headquarters and manufacturing facility in Sydney, along with a sales office in California, aiming to dominate the premium beverage market and achieve higher growth through continuous innovation and market expansion.
INNOVATION BEVERAGE GROUP LTD - DECLARES FIVE-FOR-ONE REVERSE STOCK SPLIT
Stock Split Announcement: Innovation Beverage Group Ltd has announced a five-for-one reverse stock split.
Impact on Shareholders: This move is intended to consolidate shares, potentially increasing the stock price and improving market perception.
