Mangoceuticals, Inc. (MGRX) has released an update.
Mangoceuticals, Inc. previously reported insufficient stockholders’ equity to meet Nasdaq’s minimum requirement and was notified of non-compliance. The company submitted a compliance plan and was granted an extension by Nasdaq to meet the $2.5 million equity threshold by April 29, 2024. They must report on the completed transactions leading to compliance or provide a pro forma balance sheet demonstrating it. Failing to show compliance in the next periodic report could lead to delisting, but the company is exploring options to meet the requirements within the allotted time, though success is not guaranteed.
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