NEVE YARAK, Israel – N2OFF, Inc. (NASDAQ: NITO), a clean technology company specializing in sustainable energy and agri-tech solutions, has been granted an additional period of 180 days, until July 7, 2025, to meet the minimum number of Nasdaq. price requirement, the company announced on Tuesday. Currently trading at $1.37, the stock has shown remarkable momentum with a 452% increase over the past week. The Nasdaq Listing Qualifications Department issued an official notice that N2OFF has until the specified date to ensure that the closing bid price of the common stock is at least $1.00 per share for at least 10 consecutive trading days. InvestingPro data reveals 12 additional investment insights into the current state of the NITO market.
In accordance with Nasdaq Marketplace Rule 5810 (c) (3) (A), the addition was granted based on N2OFF's compliance with the market price of publicly held shares and all other standards for initial listing on the Nasdaq Capital Market, except for the bid price. . The company, with a market capitalization of 15.63 million dollars, maintains a strong financial position with zero debt and a healthy ratio of 6.52, according to InvestingPro analysis. The company has expressed its intention to resolve the shortfall in the bid price and may consider a reverse split if necessary.
The announcement from Nasdaq does not currently affect the stock listing or trading of N2OFF, with shares continuing to be listed on the Nasdaq Capital Market under the ticker symbol NITO. The stock has shown significant volatility, trading between $0.16 and $3.49 over the past 52 weeks.
N2OFF, formerly known as Save Foods, Inc., focuses on integrated solutions to reduce greenhouse gas emissions and improve safety and quality in the agri-tech market. A majority owned Israeli company, NTWO OFF Ltd., offers a new way to reduce nitrous oxide emissions. The company has also recently entered the solar PV market, backing Solterra Renewable Energy Ltd. in a project with a capacity of 111 MWp.
The company maintains a minority stake in Plantify Foods, Inc., a Canadian company traded on the TSXV that offers clean, healthy food options.
This announcement contains forward-looking statements that are subject to risks and uncertainties, including market conditions, as described in N2OFF's Annual Report and SEC filings. The Company undertakes no obligation to update these statements in light of new information or future events. This article is based on a news report.
In other recent news, N2OFF, Inc. made great strides in both the renewable energy and agriculture sectors. The company completed a private placement of equity securities, generating proceeds of $1.5 million. N2OFF also completed the sale of new shares and warrants, contributing additional funds to support its operations.
In a strategic move, N2OFF has expanded into the European energy storage market through a partnership with Italy-based Solterra Ltd. The company has also made significant progress on a solar photovoltaic project in Germany, receiving priority approval from the Melz Municipal Committee.
N2OFF also settled the outstanding debt by acquiring a large amount from Plantify Foods, Inc. Furthermore, N2OFF's subsidiary, Save Foods Ltd., has signed a non-binding letter of intent with Ethiopia's federal agency, GENSIS PM TDC, which could generate significant revenue. .
InvestingPro analysts estimate revenue growth of around 31% for N2OFF this year. This development reflects the company's latest efforts to strengthen its capital structure and support its business operations. Please note that this is a recent development and subject to change.
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