Domo signs strategic collaboration agreement with AWS for AI solutions
TOMI Environmental Solutions, Inc. has been notified by Nasdaq of non-compliance with the exchange’s minimum bid price requirement, which could lead to delisting if not rectified. The industrial chemicals company, listed under the ticker (NASDAQ:TOMZ), received a deficiency letter from Nasdaq on Monday, indicating that its common stock had closed below the minimum $1.00 per share threshold for 30 consecutive business days. The stock currently trades at $0.75, down nearly 26% year-to-date, with a market capitalization of $15.37 million.
The current status does not immediately affect TOMI Environmental’s listing on the Nasdaq Capital Market. The company has 180 days, until September 24, 2025, to meet the bid price requirement. Compliance can be achieved if the stock’s closing bid price reaches $1.00 or higher for at least 10 consecutive business days before the deadline. According to InvestingPro data, while the company maintains impressive gross profit margins of 60%, it faces challenges with cash burn and profitability. Get access to 8 more key ProTips and comprehensive analysis with an InvestingPro subscription.
TOMI Environmental Solutions, headquartered in Frederick, Maryland, is considering options to regain compliance with Nasdaq’s requirements. This information is based on a press release statement filed with the SEC. The company operates with a moderate debt level, with a debt-to-equity ratio of 0.41, and maintains strong liquidity with a current ratio of 4.13.
In other recent news, TOMI Environmental Solutions, Inc. has announced its successful application of SteraMist technology at Algafeed, significantly reducing Protozoan ciliate contamination in microalgae production. This development ensures that Algafeed meets its production targets and plans to expand the technology’s use globally. Additionally, TOMI’s SteraMist technology has been deployed at NASA’s Johnson Space Center, where it is used in handling samples from the Mars Perseverance Rover mission, marking a notable expansion into the aerospace sector. The company has also achieved compliance with the Avetta platform, reinforcing its commitment to health, safety, and environmental standards.
Furthermore, TOMI has met the Nasdaq minimum bid price requirement, maintaining a closing bid price of $1.00 or greater for ten consecutive trading days. CEO Dr. Halden Shane attributes this achievement to the company’s financial discipline and strategic execution. TOMI’s strategy includes expanding partnerships in high-growth sectors like education and food processing and continuing to innovate with its SteraMist technology. The company aims to extend its international presence, focusing on regions where infectious diseases are prevalent. These recent developments highlight TOMI’s dedication to advancing its technology and maintaining operational excellence.
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