Summary by Futu AI
On July 22, 2024, Minim, Inc., a Delaware-based company, received a letter from the Nasdaq Office of General Counsel indicating that the company's appeal to the Nasdaq Hearings Panel regarding a delisting determination had been abandoned due to a clerical error. Despite this, Minim has not given up its request for a hearing and has filed a submission to the Nasdaq Listing and Hearing Review Council to prevent the delisting of its securities. The company's securities were suspended from trading on Nasdaq on July 24, 2024, but are now eligible to trade on the OTC Market's Pink Current Information. Minim believes its appeal should be granted and has developed a plan to regain compliance with Nasdaq's minimum stockholders' equity requirement. Additionally, on July 22, 2024, Minim's CEO entered into a securities purchase agreement with Yihucha Technology Co., Ltd., selling a combination of common stock, Series A Convertible Preferred Stock, and warrants, which is part of the company's strategy to regain compliance with Nasdaq's listing rules.
