STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) Files An 8-K Other Events
Item 8.01 Other Events.
Staffing 360 Solutions, Inc. (the “Company”) today disclosed that, on February 3, 2021, the Company received formal notice that the Nasdaq Hearings Panel (the “Panel”) granted the Company’s request for an extension to February 28, 2021 to evidence compliance with the minimum $2.5 million stockholders’ equity requirement, or the alternative compliance standards as set forth in Nasdaq Listing Rule 5550(b)(1).
As previously disclosed, on June 3, 2020, Staffing 360 Solutions, Inc. (the “Company”) received a letter from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was no longer in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000. Further, the Company did not meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations.
There is no assurance that we will regain compliance on or before February 28, 2021, and even if we do, that we will be able to maintain compliance.
About STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF)
Staffing 360 Solutions, Inc. operates in the staffing sector. The Company is engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the United States and the United Kingdom. Its targeted consolidation model is focused on the finance and accounting, administrative, engineering and information technology (IT) staffing space.
