VerifyMe Faces Potential Delisting from Nasdaq Due to Minimum Bid Price Non-Compliance

VerifyMe, Inc. (NASDAQ: VRME) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission (SEC) that it has received notice from The Nasdaq Stock Market LLC indicating non-compliance with Nasdaq Listing Rule 5550(a)(2). This rule requires listed companies to maintain a minimum bid price of at least $1 per share over the last 30 consecutive business days.

The filing highlights that Nasdaq Listing Rule 5810(c)(3)(A) provides VerifyMe with a 180-day compliance period, until June 25, 2025, to regain compliance with the minimum bid price requirement. The company aims to demonstrate a closing bid price of at least $1 per share for a minimum of 10 consecutive business days within this period to regain compliance. Failure to meet this requirement by the deadline may lead to potential delisting, although VerifyMe could be eligible for a second 180-day compliance period if certain conditions are met.

In the event that VerifyMe does not achieve compliance with the Nasdaq continued listing standards, Nasdaq may issue a notice of delisting, which the company could appeal before a Nasdaq hearings panel. Importantly, the notification received by VerifyMe does not immediately impact the listing of its common stock on Nasdaq, but the company plans to actively monitor its stock price and explore available options.

The SEC filing also includes forward-looking statements cautioning that actual results may differ from expectations. VerifyMe has alerted investors to consider risks outlined in its reports filed with the Securities and Exchange Commission, especially related to its ability to regain compliance with Nasdaq Listing Standards. The company stresses that forward-looking statements in the filing are based on existing information and assumptions but may not align with eventual outcomes.

VerifyMe, Inc., a Nevada-based company, currently trades its Common Stock under the symbol VRME and Warrants to Purchase Common Stock under the symbol VRMEW on the Nasdaq Capital Market. The company’s headquarters are located at 801 International Parkway, Fifth Floor, Lake Mary, Florida.

This 8-K filing emphasizes VerifyMe’s concerted effort to address the minimum bid price deficiency and maintain compliance with Nasdaq’s stringent listing requirements. Investors in VerifyMe are advised to stay informed about the company’s ongoing compliance efforts and any future developments relating to its Nasdaq listing status.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read VerifyMe’s 8K filing here.

About VerifyMe

VerifyMe, Inc, together with its subsidiary, PeriShip Global, LLC, operates as a technology solutions provider that specializes in products to connect brands with consumers and providing brands with end-to-end logistics management for their products. The company operates through two segments, VerifyMe Solutions and PeriShip Global Solutions.