Farmmi appeals nasdaq delisting determination

Lishui, china , may 27, 2022 /prnewswire/ -- farmmi, inc. ("farmmi" or the "company") (nasdaq: fami), an agricultural products supplier in china, today appealed the staff determination from the listing qualifications department of the nasdaq stock market llc ("nasdaq"), to a hearings panel (the "panel") to delist the company's securities from the nasdaq capital market because the company's securities have had a closing bid price below $0.10 for ten consecutive trading days, which triggers a notice of delisting pursuant to nasdaq listing rule 5810(c)(3)(a)(iii)(1) (the "$0.10 rule"). in addition to the $0.10 rule delisting notice, the company also currently fails to satisfy the requirement that the closing bid price of its securities remain at $1.00 or higher as required by nasdaq listing rule 5810(c)(3)(a) (the "minimum bid price rule").
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