Minim, Inc. (NASDAQ: MINM) was born in 1977 as a networking company and now delivers intelligent software to protect and improve the WiFi connections we depend on to work, learn, and live.
Minim’s cloud platform powers intuitive apps and a variety of routers, helping customers take control of their connected experience and privacy. Minim is headquartered in Manchester, N.H.
Minim, Inc. Announces Receipt of Nasdaq Listing Deficiency Notice
Minim, Inc. (Nasdaq: MINM) made an announcement on March 1, 2024, that it has received a notice (the “Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) on November 16, 2023, indicating that the Company is not currently in compliance with Nasdaq’s Listing Rules (the “Listing Rules”) due to the Company’s inability to timely file its Form 10-Q for the period ended September 30, 2023 (the “Form 10-Q”) with the Securities and Exchange Commission (“SEC”).
The Notice has no immediate effect on the listing or trading of the Company’s securities. Pursuant to Listing Rule 5250(c)(1), the Company was required to file the Form 10-Q by November 14, 2023.
The Company previously reported its inability to file the Form 10-Q by the Due Date in a Form 12b-25 that the Company filed with the SEC on November 15, 2023.
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Nasdaq’s Response and Company’s Obligation
Nasdaq has informed the Company that, under Nasdaq rules, the Company has 60 calendar days from receipt of the Notice to submit a plan to regain compliance with the Rule.
If Nasdaq accepts the Company’s plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-Q, or May 13, 2024, to regain compliance.
However, there can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq or maintain compliance with the other continued listing requirements set forth in the Nasdaq Listing Rules.
If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.
Company’s Response and Efforts
The Company is working diligently to complete the Form 10-Q and anticipates filing the Form 10-Q as soon as it is able. The delay in filing the Form 10-Q may be due to various reasons, such as the complexity of financial reporting, unforeseen circumstances, or internal challenges faced by the company.
However, Minim remains committed to resolving this issue promptly and in compliance with Nasdaq’s requirements.
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Investor Consideration
While receiving a Nasdaq Listing Deficiency Notice may raise concerns among investors, it’s important to note that this notice does not immediately impact the listing or trading of Minim’s securities.
The company has been given a window to rectify the situation, and it is actively working to comply with Nasdaq’s requirements.
As Minim continues its efforts to complete and file the Form 10-Q, investors should stay updated on any developments and assess the potential impact on the company’s operations and financial standing.
It’s advisable for investors to monitor the company’s progress and consider consulting with financial advisors or analysts for further guidance on investment decisions related to Minim, Inc.
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