Intelligent Bio Solutions Inc. has successfully regained compliance with the Nasdaq Capital Market's minimum stockholders' equity requirement, as per a letter received from Nasdaq on January 2, 2024. The company had previously been notified of non-compliance due to its stockholders' equity falling short of the required $2.5 million, as reported in its September 30, 2023, quarterly report. To address this, Intelligent Bio Solutions submitted a compliance plan on December 15, 2023, which included a pro forma balance sheet showing a stockholders' equity of $4,240,629 as of October 31, 2023. This increase was primarily due to a public offering of the company's securities that closed on October 4, 2023. While Nasdaq has acknowledged the company's current compliance, it has also indicated that failure to demonstrate continued compliance in the upcoming quarterly report for the period ending December 31, 2023, could result in delisting. Additionally, as of November 15, 2023, the company did not meet the alternative compliance standards related to market value of listed securities or net income from continuing operations.

Intelligent Bio Solutions Inc. has successfully regained compliance with the Nasdaq Capital Market's minimum stockholders' equity requirement, as per a letter received from Nasdaq on January 2, 2024. The company had previously been notified of non-compliance due to its stockholders' equity falling short of the required $2.5 million, as reported in its September 30, 2023, quarterly report. To address this, Intelligent Bio Solutions submitted a compliance plan on December 15, 2023, which included a pro forma balance sheet showing a stockholders' equity of $4,240,629 as of October 31, 2023. This increase was primarily due to a public offering of the company's securities that closed on October 4, 2023. While Nasdaq has acknowledged the company's current compliance, it has also indicated that failure to demonstrate continued compliance in the upcoming quarterly report for the period ending December 31, 2023, could result in delisting. Additionally, as of November 15, 2023, the company did not meet the alternative compliance standards related to market value of listed securities or net income from continuing operations.