EX-99.25 2 zivodelistreason.txt Delisting Determination, The Nasdaq Stock Market, LLC, February 15, 2024, Zivo Bioscience, Inc. The Nasdaq Stock Market LLC (the Exchange) has determined to remove from listing the securities of Zivo Bioscience, Inc., effective at the opening of the trading session on February 26, 2024. Based on review of information provided by the Company, Nasdaq Staff determined that the Company no longer qualified for listing on the Exchange pursuant to Listing Rule 5550(b)(1). The Company was notified of the Staff determination on May 23, 2023. On May 30, 2023, the Company exercised its right to appeal the Staff determination to the Listing Qualifications Hearings Panel (Panel) pursuant to Rule 5815. On August 4, 2023, upon review of the information provided by the Company, the Panel determined to grant the Company request to remain listed in the Exchange subject to a series of milestones. Based on the Company failure to meet the terms of the exception, on November 22, 2023, the Panel issued a final decision denying the Company continued listing. The Company securities were suspended on November 27, 2023. The Company did not appeal the Panel decision to the Nasdaq Listing and Hearing Review Council (Council) and the Council did not call the matter for review. The Staff determination to delist the Company became final on January 11, 2024.