said Monday it received written notice from Nasdaq staff on Oct. 24 that it hadn’t regained compliance with the exchange’s bid price requirement, and staff would delist the company’s stock unless an appeal was filed. The company said it planned to file its appeal and address compliance with the bid price requirement. While the appeal process is under way, the suspension of trading won’t take place, Auddia said.
In April, Auddia disclosed it received notice from Nasdaq that it wasn’t in compliance with the exchange’s $1 minimum bid price requirement. At the time, the company was given 180 days, or until Oct. 23, to regain compliance, it said. Auddia’s shares finished Monday’s regular session with a 3.2% decline, closing at 21 cents. The stock lasted closed above $1 on June 12, when it closed the day at $1.22 per share. Auddia’s products include the faidr Superapp, which provides ad-free, AI enabled AM/FM, along with other content.