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Subsequent Events
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events

14. Subsequent Events

 

Nasdaq Deficiency Notice

 

On January 17, 2025 the company received written notification (the “Written Notification”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) that the Company is eligible for a 180-day extension to regain compliance with the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “Rule”).

 

As previously reported, on July 15, 2024, the Company received a deficiency letter from the Nasdaq notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s common stock has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to the Rule and the Company had been given 180 calendar days, or until January 13, 2025, to regain compliance with the Rule. Pursuant to the Written Notification, the Company now has until July 14, 2025 to meet the minimum bid price requirement.

 

The Written Notification has no immediate effect on the listing or trading of the Company’s shares, which will continue to trade on the Nasdaq Capital Market.