KULR Technology Group, Inc. (NYSE: KULR) shares gave a bit Friday. The company, a global leader in sustainable energy management, received notification from NYSE American LLC that the Company’s previously-submitted plan to regain compliance with NYSE American’s listing standards was accepted. In the Acceptance Letter, the NYSE American granted the Company a plan period through June 20, 2025 to regain compliance with the continued listing standards.
As previously reported, on December 20, 2023, the Company received a letter from the NYSE American stating that the Company’s stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 was not in compliance with the NYSE American’s continued listing standards under Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide (the “Company Guide”). Section 1003(a)(iii) of the Company Guide requires a listed company to have stockholders’ equity of $6 million or more if the listed company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. The Company reported a stockholders’ equity of $1.2 million as of September 30, 2023, and has reported losses from continuing operations and/or net losses in its five most recent fiscal years ended December 31, 2022.
KULR shares shed 0.008 cents at first Friday to 14 cents.
