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N2OFF, Inc. (NASDAQ:NITO), an agriculture chemicals company with a market capitalization of $12.7 million, has successfully regained compliance with Nasdaq’s minimum bid price requirement, the company reported today.
The Nasdaq Listing Qualification Department confirmed that the closing bid price of N2OFF’s common stock remained at or above $1.00 for 10 consecutive business days, from January 23, 2025, to February 5, 2025. According to InvestingPro data, the stock currently trades at $1.13, showing remarkable YTD returns of nearly 348%.
The Nasdaq Capital Market had previously notified N2OFF on July 8, 2024, of its non-compliance with the $1.00 minimum bid price rule, a standard condition for continued listing. The company was initially given until January 6, 2025, to meet this requirement.
Upon failure to do so by the deadline, Nasdaq granted an extension until July 7, 2025. InvestingPro analysis indicates the stock is currently undervalued, with a FAIR overall financial health rating and strong liquidity position, maintaining a current ratio of 6.52.
The recent rise in stock price has allowed N2OFF to meet the compliance requirement ahead of the extended deadline. This development follows a period of uncertainty for the company, which had undergone a name change from Save Foods , Inc. on April 10, 2023.
The return to compliance marks a positive turn for the Nevada-incorporated company, which is headquartered in Neve Yarak, Israel, and maintains a business address in New York. N2OFF’s CEO, David Palach, signed off on the SEC filing, dated February 7, 2025, confirming the resolution of the matter.
This news is based on a press release statement and indicates a stabilization in N2OFF’s market position within the agriculture chemicals sector on the Nasdaq Capital Market. The company’s stock, trading under the ticker symbol NITO, appears to have overcome one of the key challenges it faced in the past year.
In other recent news, clean technology company N2OFF, Inc. has been active in various sectors. The company has embarked on a one-year exclusive collaboration with Solterra Energy Ltd. to develop renewable energy projects in Albania, focusing on solar energy and battery storage. In addition to this, N2OFF’s subsidiary, Save Foods Ltd., successfully defended its European patent against opposition from ECOLAB Inc., potentially impacting the company’s operations and market positioning.
Further, N2OFF has been granted an additional 180-day period to meet Nasdaq’s minimum bid price requirement. The company has also completed a private placement of equity securities, issuing new shares and generating gross proceeds of $1,500,000.
On the international front, N2OFF has expanded into the European energy storage market by signing a binding letter of intent with Solterra Ltd’s subsidiary, Solterra Brand Services Italy, to develop two large-scale Battery Storage Systems in Sicily, Italy.
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