Core Points - KWESST Micro Systems Inc. has received a notification from Nasdaq granting an additional 180 calendar days, until May 12, 2025, to regain compliance with the minimum bid price requirement of $1 per share [1][2][3] - The company was initially notified of its non-compliance on May 16, 2024, and had until November 12, 2024, to address the issue but failed to do so [2][4] - Nasdaq's decision is based on the company's compliance with other listing requirements, except for the bid price, and its intention to rectify the deficiency, potentially through a reverse share split [3][4] Company Overview - KWESST develops next-generation tactical systems for military and security forces, focusing on real-time situational awareness and targeting information [6] - The company's product portfolio includes countermeasures against electronic detection, lasers, and drones, and features a new non-lethal product line branded PARA OPSTM [6] - KWESST is headquartered in Ottawa, Canada, with offices in London, UK, and Abu Dhabi, UAE [6]
KWESST Receives NASDAQ Minimum Bid Price Requirement Extension