On August 26, 2024, a CBD company based in Charlotte, North Carolina, announced that it has received acceptance from the NYSE American LLC regarding its plan to regain compliance with the NYSE American continued listing standards. The company, which operates under the brand names cbdMD and Paw CBD, along with its functional mushroom brand ATRx Labs, had previously received a notice of non-compliance from the NYSE American due to its stockholders’ equity falling below the required threshold.
The NYSE American has granted the company a plan period through December 5, 2025, during which it will be subject to quarterly reviews to assess progress. Failure to regain compliance by the specified date or demonstrate sufficient progress may result in delisting proceedings.
The company’s preferred stock and common stock will continue to be listed on the NYSE American during the plan period. The notification from the NYSE American does not impact the company’s business operations or reporting obligations to the U.S. Securities and Exchange Commission.
The CEO of the company expressed gratitude for the acceptance of their plan and highlighted positive developments in the third and fourth fiscal quarters. However, the company cautions that there are no guarantees of meeting the compliance requirements within the stipulated timeframe.
The company specializes in CBD products, including THC-free options, NSF Certified for Sport® products, and Full Spectrum products. They also offer pet products under the Paw CBD brand and natural functional mushroom support through ATRx Labs. For more information on the company and its products, interested individuals can visit their official websites or follow them on social media platforms.
This press release contains forward-looking statements, and investors are advised to consider the risks and uncertainties involved. The company does not assume any obligation to update or revise the forward-looking statements provided in this press release.
