LQR House Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
The Company reported stockholders’ equity in its Annual Report on Form 10-K for the year ended December 31, 2024, that was not in compliance with Nasdaq Rule 5550(b)(1), the minimum stockholders’ equity requirement of $2,500,000 for continued listing on The Nasdaq Capital Market (the “Minimum Equity Requirement”).
In January of 2025, the Company received proceeds of approximately $4,050,000 from the exercise of outstanding warrants and in March 2025, the Company received net proceeds of $5,014,022 from the sale of its common stock through the Company’s “ATM” program. As of April 2, 2025, the Company believes it is in compliance with the Minimum Equity Requirement as a result of receiving approximately $9,064,022 in net proceeds from the exercise of warrants and ATM sales from January through March 2025, after considering anticipated net losses through April 30, 2025.
Nasdaq will monitor the Company’s ongoing compliance with the Minimum Equity Requirement and, if at the time of its next periodic report the Company does not evidence compliance, it may be subject to delisting.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LQR HOUSE INC. | ||
| Dated: April 2, 2025 | By: | /s/ Sean Dollinger |
| Name: | Sean Dollinger | |
| Title: | Chief Executive Officer | |
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