DNA X Stock Looks at Nasdaq Deadline After Latest Financing
DNA X Inc. is at risk of getting delisted from Nasdaq as the crypto-trading firm posted a stockholders’ deficit. Nasdaq told the company on May 22 that shares could be suspended starting June 2 unless DNA X asks for a hearing by May 29. Timing is key here since asking for a hearing would halt any suspension as the Nasdaq panel reviews the case. For the Nasdaq rule, stockholders’ equity needs to be at least $2.5 million. DNA X had a deficit of $983,000 for the March quarter.