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SeaStar Medical Reports Update on Nasdaq Listing Status
Globenewswire· 2025-06-25 12:05
Core Viewpoint - SeaStar Medical Holding Corporation has undertaken several transactions to ensure compliance with Nasdaq's continued listing standards after receiving a notification regarding non-compliance with market value requirements [2][3]. Group 1: Compliance and Financial Transactions - SeaStar Medical received a notification from Nasdaq on June 24, 2024, indicating non-compliance with the minimum market value requirement of $35 million [2]. - The Nasdaq Hearings Panel granted an extension until June 22, 2025, for the company to demonstrate compliance with an alternative requirement of $2.5 million in stockholders' equity [2]. - The company completed a $4.0 million public offering of common stock and warrants on June 23, 2025, and entered into a purchase agreement with Lincoln Park Capital for up to $15.0 million in common stock purchases over three years [6]. Group 2: Business Operations and Product Development - SeaStar Medical increased its customer count to six for its FDA-approved product, QUELIMMUNE, which reduces pediatric mortality by approximately 50% in patients with multiple organ failure [3][4]. - The company initiated a cost-cutting program in May 2025, expected to reduce operating expenses for the remainder of the fiscal year without materially impacting operations [3]. - Approximately $1.2 million in employee compensation and director fee liabilities were extinguished as certain employees and directors waived their rights to unpaid bonuses and fees [3]. Group 3: Product Overview and Clinical Trials - QUELIMMUNE therapy is designed for children with acute kidney injury (AKI) and sepsis, approved under a Humanitarian Device Exemption in February 2024, and launched commercially in July 2024 [4][10]. - The NEUTRALIZE-AKI pivotal trial is evaluating the safety and efficacy of the Selective Cytopheretic Device (SCD) therapy in 200 adults with AKI, focusing on 90-day mortality and dialysis dependency as primary endpoints [7]. - The SCD therapy aims to neutralize over-active immune cells and mitigate hyperinflammation, with potential applications in various acute and chronic kidney and cardiovascular diseases [9][10].
AIM ImmunoTech Announces NYSE American Notice of Noncompliance With Minimum Stockholders' Equity Requirements
Globenewswire· 2025-06-20 20:15
Core Viewpoint - AIM ImmunoTech Inc. has received a warning from NYSE American regarding non-compliance with minimum stockholders' equity requirements, with a deadline to regain compliance by June 11, 2026 [2][3]. Group 1: Compliance Issues - As of March 31, 2025, AIM reported a stockholders' deficit of negative $3.9 million, failing to meet the required equity of $4.0 million due to losses in three of the last four fiscal years [2][3]. - The NYSE American had previously issued a warning on December 17, 2024, and the current notification indicates that the deficiency remains unresolved [3]. - AIM has submitted a plan to regain compliance, which has been accepted by NYSE American, allowing until June 11, 2026, to rectify the situation [3]. Group 2: Trading Status - AIM's common stock resumed trading on NYSE American under the symbol "AIM" on June 17, 2025, and the warning does not affect trading or the company's business operations [4]. Group 3: Company Overview - AIM ImmunoTech Inc. is focused on developing therapeutics for various cancers, immune disorders, and viral diseases, including COVID-19, with its lead product being Ampligen (rintatolimod) [5].
GD Culture Group Limited Receives Nasdaq Notification Regarding Minimum Stockholders' Equity Deficiency
Newsfilter· 2025-04-01 12:00
Core Points - GD Culture Group Limited ("GDC") received a Notification Letter from Nasdaq indicating non-compliance with Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders' equity for continued listing [1] - As of the fiscal year ended December 31, 2024, GDC reported stockholders' equity of $2.643 million, which is above the minimum requirement, but Nasdaq determined that the company does not meet other listing criteria [1] - The Notification Letter does not have an immediate effect on GDC's listing status, and the company has until May 4, 2025, to submit a compliance plan [2] - If the compliance plan is accepted, GDC may receive an additional compliance period of up to 180 days to demonstrate compliance [2] - The company's business operations remain unaffected by the Notification Letter, and it is exploring options to regain compliance [3] - GDC is focused on entering the livestreaming market with an emphasis on e-commerce through its subsidiary, AI Catalysis Corp. [4] Company Overview - GD Culture Group Limited operates primarily through its subsidiaries, including AI Catalysis Corp. and Shanghai Xianzhui Technology Co, Ltd. [4] - The company is engaged in AI-driven digital human technology and live-streaming e-commerce business [4]