VISTA,
Calif., Feb. 29, 2024 /PRNewswire/ -- NuZee, Inc.
(NASDAQ: NUZE) ("NuZee" or the "Company"), a leading coffee
co-packing and technology company, today announced that on
February 22, 2024, it received a
notice from the Nasdaq Stock Market LLC ("Nasdaq") notifying NuZee
that the Company is not in compliance with Nasdaq Listing Rule
5250(c)(1) ("Rule 5250(c)(1)") because the Company did not timely
file its Quarterly Report on Form 10-Q for the quarter ended
December 31, 2023 (the "Form 10-Q")
with the Securities and Exchange Commission (the "SEC"). The Notice
has no immediate effect on the listing of the Company's stock on
Nasdaq, and it states that the Company is required to submit a plan
to regain compliance with Rule 5250(c)(1) within 60 calendar days
from the date of the Notice. If the plan is accepted by Nasdaq,
then Nasdaq can grant the Company up to 180 calendar days from the
due date of the Form 10-Q to regain compliance.
As reported by the Company in its Form 12b-25 filed with the SEC
on February 14, 2024, the Company was
unable to file its Form 10-Q within the prescribed time period
without unreasonable effort or expense. The Company needs
additional time to complete its financial statements, notes, as
well as to have the report reviewed by its accountants and
attorneys. The Company continues to work diligently to enable the
filing of the Form 10-Q with the SEC as soon as reasonably
practicable.
About NuZee
NuZee, Inc., (NASDAQ: NUZE), is a leading co-packing company for
single-serve coffee formats that partners with companies to help
them expand within the single-serve and private label coffee
category. Providing end-to-end innovative and sustainable solutions
with the flexibility and capacity for both small roasters and large
global brands, NuZee is revolutionizing the way single-serve coffee
is enjoyed in the U.S. Through the brand's unique process, NuZee
fulfills every aspect of co-packing needs, from sourcing, roasting
and blending, to packing and packaging.
Forward-Looking Statements
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements include, but are not limited to, NuZee's
beliefs, plans, goals, objectives, expectations, assumptions,
estimates, intentions, future performance, other statements that
are not historical facts and statements identified by words such as
"expects", "anticipates", "intends", "plans", "believes", "seeks",
"estimates" or words of similar meaning. NuZee cautions you that
such statements are simply predictions and actual events or results
may differ materially. These statements reflect NuZee's current
expectations and NuZee does not undertake to update or revise these
forward-looking statements except as required by law, even if
experience or future changes make it clear that any projected
results expressed or implied in this or other NuZee statements will
not be realized. Further, these statements involve risks and
uncertainties, many of which are beyond NuZee's control, which
could cause actual results to differ materially from the
forward-looking statements. Statements related to, among other
things, the consummation of the offering of common stock and
potential changes in market conditions constitute forward-looking
statements. These risks and uncertainties, many of which are beyond
our control, include: NuZee's plan to obtain funding for its
operations, including funding necessary to develop, manufacture and
commercialize its products; the impact to NuZee's business from
COVID-19 global crisis; general market acceptance of and demand for
NuZee's products; and NuZee's commercialization, marketing and
manufacturing capabilities and strategy; for description of
additional factors that may cause NuZee's actual results,
performance or expectations to differ from any forward looking
statements, please review the information set forth in the 'Risk
Factors' and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" sections of NuZee's public
reports and NuZee's other filings made with the SEC.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nuzee-inc-receives-nasdaq-notification-of-non-compliance-with-listing-rule-5250c1-302076426.html
SOURCE NuZee, Inc.