cbdMD (NYSE American: YCBD) has received a notice of noncompliance from NYSE American dated December 31, 2024, for failing to maintain stockholders’ equity of $2 million or more. The company reported stockholders’ equity of $1,963,417 as of September 30, 2024, and losses in four of its five most recent fiscal years.
The company remains under a previously accepted compliance plan from August 20, 2024, addressing noncompliance with the $4 million stockholders’ equity requirement. cbdMD must regain compliance by December 5, 2025, or face potential delisting. During this period, both common stock (YCBD) and preferred stock (YCBD-PA) will continue trading with a ‘BC’ (below compliance) designation.
The company has reduced cash consumption from $4.9 million in fiscal 2023 to approximately $0.7 million in fiscal 2024. To achieve compliance, cbdMD is considering converting preferred stock…
