SIMPPLE Ltd. Receives Nasdaq Notifications Regarding Minimum Stockholders' Equity Deficiency and Annual Meeting Deficiency

Core Viewpoint - SIMPPLE Ltd. has received notifications from Nasdaq regarding non-compliance with minimum stockholders' equity and annual meeting requirements, which could affect its continued listing status [1][2][3]. Financial Compliance - The company's stockholders' equity was reported at $950,980 as of June 30, 2024, which is below the required minimum of$2,500,000 for Nasdaq listing [2]. - The company failed to hold an annual meeting of shareholders within twelve months of its fiscal year-end, violating Nasdaq Listing Rules [3]. Compliance Plan - SIMPPLE has been given 45 calendar days, until March 3, 2025, to submit a plan to regain compliance with the stockholders' equity and annual meeting requirements [4]. - The company is actively developing a plan to increase stockholders' equity and aims to file this plan with Nasdaq by the deadline [5]. Company Overview - SIMPPLE Ltd. is an advanced technology solution provider in the PropTech sector, focusing on autonomous facility management [6]. - Founded in 2016 and headquartered in Singapore, the company serves over 60 clients across public and private sectors, expanding into Australia and the Middle East [6]. - The company has developed the SIMPPLE Ecosystem, which includes a mix of software and hardware solutions for building maintenance, surveillance, and cleaning [6].