Dogness receives Nasdaq notification over minimum bid price deficiency
Dogness has been notified by Nasdaq that its stock price has fallen below the exchange's minimum requirements for continued listing.
Pet product manufacturer Dogness announced it received a formal notification from Nasdaq indicating that the company's shares failed to maintain the minimum bid price of $1.00 for 30 consecutive business days. The notification is a standard procedural step for companies failing to meet the exchange's continued listing standards.
The company has 180 calendar days, ending in April 2027, to regain compliance. To achieve this, the company's common stock must close at or above $1.00 per share for at least ten consecutive business days. Nasdaq may grant a further 180-day extension if the company meets other eligibility criteria, such as maintaining shareholders' equity.
Failure to meet the minimum bid price requirement could lead to the delisting of the company's securities from the Nasdaq exchange. Management stated they are evaluating options to improve the stock price, noting that the current status does not affect the company's daily business operations.