Core Points - Above Food Ingredients Inc. has received formal notification from NASDAQ regarding non-compliance with Listing Rule 5450(b)(3)(C) but has since met the condition as of May 27, 2025 [1] - The company has also met Listing Rules 5810(c)(3)(A) and 5450(a)(1) requirements and is awaiting confirmation from NASDAQ for compliance determination [2] - The company has made significant progress in restructuring operations and maximizing shareholder value, with compliance with NASDAQ listing requirements being a key milestone [3] Company Overview - Above Food Ingredients Inc. is an ingredient company focused on delivering nutritious and flavorful products with transparency [4] - The company's vision is to create a healthier world through sustainable practices, leveraging a robust chain of custody for plant proteins and advanced technologies in agriculture and processing [4]

Core Viewpoint - Above Food Ingredients Inc. is actively addressing compliance issues with Nasdaq and is optimistic about regaining compliance ahead of the scheduled hearing on May 22, 2025 [1][2]. Group 1: Compliance Issues - The company received a notice on October 10, 2024, indicating non-compliance with Nasdaq's minimum bid price requirement, as its closing bid price was below $1.00 per share for 30 consecutive business days [2]. - The company has requested a hearing and an extended stay in response to a staff determination notice received on April 14, 2025, and is confident in meeting compliance requirements before the hearing [1][2]. Group 2: Financial Restructuring - A significant restructuring announced on March 20, 2025, has improved the company's financial position by eliminating most corporate debt and advancing towards operational profitability [2]. - The successful closing of the Palm transaction, first announced on February 6, 2025, is expected to materially enhance shareholder value [2]. Group 3: Reporting Compliance - Due to the restructuring, the company has not yet filed its interim balance sheet and income statement for the period ended July 31, 2024, which is a violation of Listing Rule 5250(c)(2) [3]. - The company plans to remedy this deficiency by filing the required Form 6-K before April 30, 2025, ahead of the hearing date [3]. Group 4: Company Overview - Above Food Ingredients Inc. is an ingredient company focused on delivering nutritious products made with real ingredients, emphasizing transparency and sustainability [4]. - The company aims to create a healthier world through its operations in primary agriculture and processing, leveraging artificial intelligence-driven genomics and agronomy [4].