Fusion Fuel Green PLC announced on November 12, 2024, that it received a Staff Determination Notice from Nasdaq's Listing Qualifications Department. The notice indicated that the company did not comply with the minimum $10,000,000 stockholders' equity requirement for continued listing, as its Form 20-F for the fiscal year ended December 31, 2023, reported stockholders' equity of $3,022,125.
The company's plan to regain compliance, which included a request to transfer its listing to The Nasdaq Capital Market by November 4, 2024, was denied by the Staff. Fusion Fuel was unable to consummate certain transactions by the deadline that would have satisfied the requirements for transfer.
In response to the Staff Determination, Fusion Fuel submitted a request for a hearing before a Nasdaq Hearings Panel. This request will stay the suspension of the company's securities and the filing of a Form 25-NSE, which would remove the company's securities from listing and registration on Nasdaq, pending the Panel's decision.
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