Summary by Futu AI
Intrusion Inc. received a notice from Nasdaq on October 28, 2024, indicating non-compliance with the $1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market. The determination was based on the closing bid price falling below $1.00 for the last 30 consecutive business days as of October 25, 2024.The company has been granted a 180-day compliance period until April 28, 2025, to regain compliance. Compliance can be achieved if the stock maintains a closing bid price of at least $1.00 for a minimum of ten consecutive business days. The company may be eligible for an additional 180-day extension if it meets other listing requirements and indicates intention to implement a reverse stock split if necessary.The notification has no immediate effect on Intrusion's listing or trading status under the symbol "INTZ". The company is currently monitoring its stock price and evaluating various alternatives to address the deficiency, though no specific response plans have been determined yet.