Summary by Futu AI
Bruush Oral Care Inc. has been notified by the Nasdaq Stock Market of non-compliance with the minimum bid price and low priced stocks rules, which are prerequisites for continued listing on the Nasdaq Capital Market. The company's securities are at risk of being delisted due to the bid price falling below $1.00 for 30 consecutive trading days and reaching $0.10 or less for ten consecutive trading days. Bruush Oral Care has requested a hearing with the Nasdaq Hearings Panel, scheduled for April 25, 2024, to appeal the delisting determination. The hearing's outcome is uncertain. Additionally, the company has received a notice regarding the delinquency in filing its annual report on Form 20-F for the fiscal year ended October 31, 2023. This filing delay serves as another basis for potential delisting. Bruush Oral Care must present a compliance plan to address the filing requirement by April 5, 2024, which will also be reviewed during the April hearing.