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Thumzup Media Corp (NASDAQ:TZUP) reported the resignation of director Robert Haag from its board and all board committees, effective October 4, 2025. The company stated in a press release that Haag’s departure was not due to any disagreement with Thumzup Media , its management, or its operations.
Following Haag’s resignation, Thumzup Media notified The Nasdaq Stock Market LLC that it was not in compliance with Nasdaq Listing Rule 5605(c), which requires the audit committee to have at least three independent members who meet specific requirements under Nasdaq and SEC rules. As of October 9, 2025, the company received formal notification from Nasdaq regarding this non-compliance.
In accordance with Nasdaq Listing Rule 5605(c)(4), Thumzup Media is entitled to a cure period to regain compliance. This period will expire at the earlier of the company’s next annual meeting of stockholders or October 5, 2026. The company indicated its intention to appoint an additional independent director to its audit committee before the end of the cure period.
The information in this article is based on a statement from Thumzup Media’s SEC filing.
In other recent news, Thumzup Media Corporation has announced a $10 million share repurchase program that will extend through December 31, 2026. This follows the completion of a previous $1 million buyback initiative, during which the company repurchased 212,432 shares at an average price of $4.71 per share. Additionally, Thumzup’s board of directors has extended the window for this share repurchase program by one month, now ending on October 31, 2025. This decision allows for continued repurchases of common stock based on market conditions and other financial considerations.
In a move to expand its business interests, Thumzup has provided a $2.5 million loan to DogeHash Technologies Inc. to enhance its dogecoin mining capacity. This loan is part of Thumzup’s pending acquisition of DogeHash and is expected to add over 500 new ASIC miners, potentially increasing the total number of mining rigs to over 4,000. These developments reflect Thumzup’s strategic initiatives to strengthen its market position and explore new opportunities.
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