09/17/2025 | Press release | Distributed by Public on 09/17/2025 14:47
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On September 16, 2025, HeartSciences Inc. (the "Company") received formal notice from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has regained compliance with Nasdaq's Minimum Stockholders' Equity Requirement (as defined below) and the matter is now closed.
As previously disclosed in the Company's Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission on March 21, 2025, the Company previously received a letter from the Staff indicating that the Company was not in compliance with the requirements of Nasdaq Listing Rule 5550(b)(1) (the "Rule"), which requires companies listed on The Nasdaq Capital Market to maintain a minimum of $2.5 million in stockholders' equity (the "Minimum Stockholders' Equity Requirement"), and the Company did not otherwise meet the alternative requirements of market value of listed securities or net income from continuing operations, for continued listing on The Nasdaq Capital Market. The Company subsequently submitted with Nasdaq a specific plan to regain and sustain compliance with the Rule. Based on the Company's submission, the Staff previously granted the Company an extension of time to regain compliance with the Rule.