LONDON–( BUSINESS WIRE )–Perfect Moment Ltd. (Company) (NYSE American: PMNT), a high-quality, luxury ski apparel and lifestyle brand that combines technical excellence with fashionable design, received a notice (letter) from NYSE American LLC (NYSE American) stating that the company is not in compliance Minimum Shareholder Capital Requirements Sections 1003(a)(ii) of the NYSE American Company Manual (Company Manual), which requires shareholders’ capital of US$4.0 million dollars or more if the company has reported a loss from continuing operations and/or a net loss in three of the four most recent fiscal years. years. As of September 30, 2024, the company had shareholders’ equity of $2.7 million and had losses for the three most recent fiscal years ended March 31, 2024.
The Company is now subject to the procedures and requirements of Section 1009 of the Company Handbook. The company has until January 10, 2025 to submit a plan (plan) of the actions it has taken or will take to restore compliance with the continuing listing standards by June 11, 2026. The company intends to submit a plan to restore compliance. NYSE American Listing Standards. If NYSE American accepts the plan, the company may continue to be listed for the duration of the plan and be subject to periodic reviews, including quarterly monitoring for compliance with the plan, until it regains compliance. If the plan is not accepted by NYSE American, the letter said, a delisting process will begin. The Company may appeal the decision to debar personnel in accordance with Sections 1010 and 12 of the Company Manual.
The letter has no immediate effect on the listing or trading of the Company’s common stock on the NYSE American. The Company’s receipt of the letter from NYSE American will not affect the Company’s business, operations or reporting requirements with the US Securities and Exchange Commission.
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Company contact
Jeff Claiborne, CFO
perfect moment
Tel +44 (0)204 558 8849
Email contact
Contact with the investor
Ronald Both or Grant Studi
CMA Investor Relations
Tel (949) 432-7566
Email contact
Source: Perfect Moment LLC.