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Maison Solutions Inc. (NASDAQ:MSS) announced Thursday that it received a notice from The Nasdaq Stock Market LLC stating the company’s common stock has closed below the minimum $1.00 per share bid price requirement for the past 30 consecutive business days. This requirement is set by Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market.
According to a press release statement and the company’s filing with the Securities and Exchange Commission, Maison Solutions has been given an initial 180 calendar day period, until January 6, 2026, to regain compliance. The company will be considered back in compliance if its common stock closes at or above $1.00 per share for at least ten consecutive business days before the compliance period ends.
The notice does not have an immediate effect on the listing or trading of Maison Solutions’ common stock on Nasdaq.
If Maison Solutions does not regain compliance within the initial period, it may be eligible for an additional 180 calendar day extension, provided it meets other Nasdaq listing requirements except for the bid price, and submits written notice of its plans to address the deficiency. If the company fails to meet these conditions, Nasdaq may move to delist the company’s securities, though Maison Solutions would have the opportunity to appeal such a decision.
Maison Solutions stated in the filing that it intends to actively monitor the bid price of its common stock and consider all available options to resolve the deficiency.
This information is based on a press release statement and the company’s recent SEC filing.
In other recent news, Maison Solutions Inc. has announced the appointment of Yaojun Lin as the new Chief Business Development Officer in a contractor capacity. This strategic move is part of the company’s efforts to enhance its long-term business development and growth strategy. Yaojun Lin will be responsible for guiding the company in formulating and executing growth strategies, identifying emerging market opportunities, and securing strategic partnerships. The CEO, John Xu, highlighted the importance of Lin’s role in strengthening the company’s position in the competitive Southern California market. Xu also noted that Lin’s expertise would be crucial for the company’s expansion plans, including mergers and acquisitions. This appointment is one of several recent changes in the company’s management team, following the introduction of a new COO and CSO. These leadership changes aim to maintain Maison Solutions’ competitive edge and support its growth in the specialty grocery retail market. The company operates under the brand names HK Good Fortune and Lee Lee International Supermarket in various regions.
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