Perfect Moment receives a notice of non-compliance from Investing.com

LONDON–(BUSINESS WIRE)–Perfect Moment Ltd. (the Company) (NYSE American: PMNT), a high-performance luxury skiwear and lifestyle brand that combines technical excellence with fashion-focused designs, has received a notice (letter) from NYSE American LLC (the NYSE American), stating that the Company fails to meet the minimum equity requirements pursuant to Section 1003(a)(ii) of the NYSE American Company Guide (the Company Guide) if the Company has equity of $4.0 million or more in three of the last four fiscal years reported losses from continuing operations and/or net losses. As of September 30, 2024, the Company had shareholders’ equity of $2.7 million and reported losses in the three most recent fiscal years ended March 31, 2024.

The Company is now subject to the procedures and requirements of Section 1009 of the Code of Conduct. The Company has until January 10, 2025 to submit a plan (the Plan) of the actions it has taken or will take to restore compliance with the Continuing Listing Standards by June 11, 2026. The Company intends to submit a plan to restore compliance with these standards. If NYSE American accepts the plan, the company may continue its listing during the term of the plan and will be subject to periodic reviews, including quarterly monitoring of compliance with the plan, until it regains compliance. If the plan is not accepted by NYSE American, the letter states that a delisting process will be initiated. The Company may appeal a decision to terminate employees pursuant to Section 1010 and Part 12 of the Company Guide.

The letter has no immediate impact on the listing or trading of the Company’s common stock on NYSE American. The Company’s receipt of the NYSE American letter will not affect the Company’s business, operations or reporting obligations to the Securities and Exchange Commission.

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Company contact
Jeff Clayborne, CFO
Perfect moment
Tel. +44 (0)204 558 8849
Email contact

Contact for investors
Ronald Both or Grant Stude
CMA Investor Relations
Tel. (949) 432-7566
Email contact

Source: Perfect Moment Ltd.