CbdMD, Inc. Announces Notification of Noncompliance With Additional NYSE American Continued Listing Standards
CbdMD, Inc. Announces Notification of Noncompliance With Additional NYSE American Continued Listing Standards
Charlotte, North Carolina--(Newsfile Corp. - June 7, 2024) - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBD-PA) ,one of the nation's leading and most highly trusted and recognized CBD companies, and operator of the leading CBD brands cbdMD and Paw CBD, along with its new functional mushroom brand ATRx Labs, today announced that it received a notice (the "Notice") from the NYSE American LLC (the "NYSE American") dated June 5, 2024, notifying the Company that it is no longer in compliance with NYSE American continued listing standards. Specifically, the letter states that the Company is not in compliance with the continued listing standard set forth in Section 1003(a)(ii) of the NYSE American Company Guide (the "Company Guide"). Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4 million or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal year. The Company reported stockholders' equity of $3.1 million as of March 31, 2024, and losses from continuing operations and/or net losses in three of its four most recent fiscal years ended September 30, 2023. The Notice further provides that the Company must submit a plan of compliance (the "Plan") by July 5, 2024 addressing how it intends to regain compliance with the continued listing standards by December 5, 2025.
北卡羅來納州-（Newsfile Corp. - 2024年6月7日）- cbdMD, Inc.（紐交所美國：YCBD）（紐交所美國：YCBD-PA），美國領先的、最值得信賴和認可度最高的CBD公司之一，cbdMD和Paw CBD的運營商，以及其新的功能蘑菇品牌ATRx Labs，今天宣佈收到一份通知（“通知”），通知公司，其不再符合紐交所美國LLC（“紐交所美國”）於2024年6月5日發佈的紐交所美國公司指南（“公司指南”）第1003（a）（ii）節規定的持續上市標準。具體來說，該信函稱，如果上市公司報告了持續經營的虧損和/或淨虧損，上市公司必須擁有400萬美元或更多的股東權益，如果上市公司的銷售不佳或最近四個財政年度中有三個財政年度的淨損失。截至2024年3月31日，公司報告的股東權益爲310萬美元，並在其最近四個財政年度中的三個財政年度中報告了持續經營的虧損和/或淨虧損。通知還規定，公司必須在2024年7月5日之前提交一份符合紐交所美國的持續上市標準的計劃（“計劃”），以解決公司準備如何在2025年12月5日之前恢復符合持續上市標準的問題。該通知對公司普通股股票（“普通股”）或A系列優先股票（“優先股”）的上市沒有直接影響，在計劃期間，普通股和優先股將繼續在紐交所美國上市和交易，但是將被添加一個“BC”標誌，表示普通股和優先股的狀態爲“不符合標準”。該通知不影響公司的經營業務或其在美國證券交易委員會的報告要求。該公司已經開始準備其截至2024年7月5日的計劃提交給紐交所美國。如果紐交所美國接受計劃，公司將能夠在計劃期間繼續上市，並將受到紐交所美國工作人員的持續定期審查。如果未提交計劃，未被紐交所美國接受計劃或被接受但未能在2025年12月5日之前符合持續上市標準，或計劃期間未能與計劃一致取得進展，公司將按照紐交所美國公司指南中規定的除牌程序受到處理。該公司專注於實現正面淨收入，並已經宣佈將在2024年8月前實施重大成本削減。該公司致力於進行交易或交易，在未來實現符合紐交所美國的要求，包括但不限於尋求股東批准轉換優先股及其應計紅利，截至2024年3月31日的負債總額爲270萬美元。在某些優先股轉換提案下，應計紅利將移入股權並增加公司的股東權益。但是，無法保證公司能夠在所需的時間內實現符合紐交所美國的持續上市標準。關於cbdMD，cbdMD，Inc.是美國領先的、最值得信賴和最被認可的大麻二酚（CBD）品牌之一，擁有全面的美國生產、無THC CBD產品系列，包括NSF體育認證產品以及各種全光譜產品。我們的cbdMD品牌目前包括高級別的、優質的CBD產品，包括CBD口服液、CBD軟糖、CBD外用療法、CBD膠囊、CBD助眠劑以及不斷增長的Farm Act合規性Delta 9產品系列。我們的Paw CBD寵物產品品牌包括獸醫配製的產品，包括具有不同強度的口服液和牛肉乾，我們的ATRx Labs品牌是一種天然的功能蘑菇支持。要了解有關cbdMD的更多信息以及我們的全面的美國種植、無THC的CBD油和全光譜產品以及我們的其他品牌，請訪問、 ，或ATRxLabs.com，關注cbdMD的Instagram和Facebook或訪問全國數千家零售商中的一家，以了解cbdMD的產品。
The Notice has no immediate impact on the listing of the Company's shares of common stock (the "Common Stock") or Series A Preferred Stock (the "Preferred Stock"), which will continue to be listed and traded on the NYSE American during the Plan period, subject to the Company's compliance with the other listing requirements of the NYSE American. The Common Stock and Preferred Stock will continue to trade under the symbol "YCBD" and "YCBD-PA", respectively, but will have an added designation of "BC" to indicate the status of the Common Stock and Preferred Stock as "below compliance". The Notice does not affect the Company's ongoing business operations or its reporting requirements with the Securities and Exchange Commission.
THC-free是指使用經過驗證的科學分析方法檢測下限以下的水平。該通知對公司的普通股和優先股的上市沒有直接影響，在計劃期間，它們將繼續在紐交所美國上市和交易，並且將繼續使用YCBD和YCBD-PA作爲他們的標誌，但是他們將添加一個“BC”作爲標誌，以指示普通股和優先股的狀態爲“低於標準”。
The Company has begun to prepare its Plan for submission to the NYSE American by the July 5, 2024 deadline. If the NYSE American accepts the Plan, the Company will be able to continue its listing during the Plan period and will be subject to continued periodic review by the NYSE American staff. If the Plan is not submitted, or not accepted, or is accepted but the Company is not in compliance with the continued listing standards by December 5, 2025 or if the Company does not make progress consistent with the Plan during the Plan period, the Company will be subject to delisting procedures as set forth in the NYSE American Company Guide.
本公司已經開始準備其截至2024年7月5日的計劃提交給紐交所美國。如果紐交所美國接受計劃，公司將能夠在計劃期間繼續上市，並將受到紐交所美國工作人員的持續定期審查。如果未提交計劃，未被紐交所美國接受計劃或被接受但未能在2025年12月5日之前符合持續上市標準，或計劃期間未能與計劃一致取得進展，公司將按照紐交所美國公司指南中規定的除牌程序受到處理。
The Company is focused on achieving positive net income and has already announced significant cost reductions that will be in place by August 2024. The Company is committed to undertaking a transaction or transactions in the future to achieve compliance with the NYSE American's requirements, including but not limited to seeking shareholder approval to convert the Preferred Stock and its accrued dividend, a liability totaling $2.7 million on March 31, 2024. Under certain Preferred Stock conversion proposals, the accrued dividend would move to equity and increase the Company's stockholder equity. However, there can be no assurance that the Company will be able to achieve compliance with the NYSE American's continued listing standards within the required timeframe.
該公司正在專注於實現正面的淨收入，並已經宣佈將在2024年8月之前實施重大成本削減。該公司致力於通過交易或交易實現符合紐交所美國的要求，包括但不限於尋求股東批准轉換優先股及其應計紅利，截至2024年3月31日的負債總額爲270萬美元。在某些優先股轉換提案下，應計紅利將移入股權並增加公司的股東權益。但是，無法保證公司能夠在所需的時間內實現符合紐交所美國的持續上市標準。
About cbdMD
關於cbdMD，cbdMD，Inc.是美國領先的、最值得信賴和最被認可的大麻二酚（CBD）品牌之一，擁有全面的美國生產、無THC CBD產品系列，包括NSF體育認證產品以及各種全光譜產品。我們的cbdMD品牌目前包括高級別的、優質的CBD產品，包括CBD口服液、CBD軟糖、CBD外用療法、CBD膠囊、CBD助眠劑以及不斷增長的Farm Act合規性Delta 9產品系列。我們的Paw CBD寵物產品品牌包括獸醫配製的產品，包括具有不同強度的口服液和牛肉乾，我們的ATRx Labs品牌是一種天然的功能蘑菇支持。要了解有關cbdMD的更多信息以及我們的全面的美國種植、無THC的CBD油和全光譜產品以及我們的其他品牌，請訪問 、 ，或ATRxLabs.com，關注cbdMD的Instagram和Facebook或訪問全國數千家零售商中的一家，以了解cbdMD的產品。
cbdMD, Inc. is one of the leading and most highly trusted and most recognized Cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free1 CBD products, including NSF Certified for Sport products, as well as a wide array of Full Spectrum products. Our cbdMD brand currently includes high-grade, premium CBD products including CBD tinctures, CBD gummies, CBD topicals, CBD capsules, CBD sleep aids, and a growing collection of Farm Act compliant Delta 9 products. Our Paw CBD brand of pet products includes veterinarian-formulated products including tinctures and chews in varying strengths, and our ATRx Labs brand of natural functional mushroom support. To learn more about cbdMD and our comprehensive line of U.S. grown, THC-free1 CBD oil and Full Spectrum products as well as our other brands, please visit , , or ATRxLabs.com, follow cbdMD on Instagram and Facebook, or visit one of the thousands of retailers nationwide that carry cbdMD's products.
THC-free是指使用經過驗證的科學分析方法檢測下限以下的水平。1本公司已經開始準備其截至2024年7月5日的計劃提交給紐交所美國。如果紐交所美國接受計劃，公司將能夠在計劃期間繼續上市，並將受到紐交所美國工作人員的持續定期審查。如果未提交計劃，未被紐交所美國接受計劃或被接受但未能在2025年12月5日之前符合持續上市標準，或計劃期間未能與計劃一致取得進展，公司將按照紐交所美國公司指南中規定的除牌程序受到處理。1請訪問，，或ATRxLabs.com，關注cbdMD的Instagram和Facebook或訪問全國數千家零售商中的一家，以了解cbdMD的產品。
Forward-Looking Statements
前瞻性聲明
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including with regard to the Company ability to timely submit its Plan to the NYSE American, the acceptance of its Plan by the NYSE American and the Company's ability to regain compliance with the NYSE American's continued listing standards by December 5, 2025. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words "believe," "expect," "anticipate," "intend," "estimate," "project" and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to those described in our Form 10-K and other filings with the U.S. Securities and Exchange Commission. All information set forth in this press release is as of the date hereof. You should consider these factors in evaluating the forward-looking statements included in this press release and not place undue reliance on such statements. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by law.
此通信包含依據1995年美國私人證券訴訟改革法案的安全港規定的"前瞻性聲明"，包括有關公司能否在時間上將其計劃及時提交給紐交所美國、紐交所美國接受其計劃以及公司能否在2025年12月5日之前恢復符合紐交所美國持續上市標準的聲明。這些前瞻性聲明基於管理層的信仰、假設和當前可用信息。沒有僅與歷史事實有關的詞“相信”、“期望”、“預計”、“意圖”、“估計”、“項目”和類似表達的言辭能夠完全識別出這些前瞻性聲明。投資者應謹慎依賴前瞻性聲明，因爲它們受到各種風險、不確定性和其他因素的影響，這些因素可能導致實際結果與任何此類前瞻性聲明中表達的結果有所不同。這些因素包括但不限於我們在第10-K表格和其他文件中描述的那些因素。本新聞稿中提供的所有信息均截至此時此刻。你應當在評估本新聞稿中包含的前瞻性聲明時考慮這些因素，不應過度依賴這些聲明。應當遵守法律的規定，我們不承擔公開提供對任何前瞻性聲明進行本身修訂或更新的義務，無論是因爲新信息、未來的發展還是其他原因，情況發生變化，除非法律另有規定。
1 THC-free is defined as below the level of detection using validated scientific analytical methods.
1THC-free是指使用經過驗證的科學分析方法檢測下限以下的水平。
Contact Information:
聯繫方式：
cbdMD, Inc.
Ronan Kennedy, CEO & CFO
+1 (704) 445-3064
IR@cbdmd.com
cbdMD, Inc.
Ronan Kennedy, CEO & CFO
+1 (704) 445-3064
IR@cbdmd.com
譯文內容由第三人軟體翻譯。