Maris-Tech Confirms Compliance with Nasdaq Minimum Stockholders' Equity Requirement
Maris-Tech announced that it has received a letter from Nasdaq notifying the company that Nasdaq has determined that the company currently complies with the minimum stockholders' equity requirement for continued listing on Nasdaq under Listing Rule 5550.As previously disclosed, on May 22, Nasdaq notified the company that it was no longer in compliance with Listing Rule 5550, which requires listed companies to maintain a minimum of $2,500,000 in stockholders' equity. Based on the company's Report of Foreign Private Issuer on Form 6-K furnished to the SEC on June 10, Nasdaq has determined that the company currently complies with Listing Rule 5550. Nasdaq stated that it will continue to monitor the company's ongoing compliance with the minimum stockholders' equity requirement and that, if at the time of the filling of its interim financial statements for the six month period ended June 30, the company does not evidence compliance with such requirement, the company's securities may be subject to delisting proceedings.