Australian Oilseeds Holdings Limited announced it has received a favourable decision from the Nasdaq Hearings Panel, granting the company additional time to meet the exchange’s continued listing standards. The extension allows the company until 30 September to comply with the Nasdaq Equity Rule, which requires listed companies to maintain a minimum of $2.5mn in shareholders’ equity.
Temporary listing maintained despite compliance risks
The company, listed under the ticker COOT, is involved in the production and sale of edible oils derived from oilseeds. It received the panel’s decision on 22 August. The continued listing of its ordinary shares and warrants on the Nasdaq is conditional on full compliance with the equity requirement by the stated deadline.
During the 22 July hearing, Australian Oilseeds Holdings reported holding $2.6mn in shareholder equity, slightly above the required threshold. The company plans to sustain this level through additional debt conversions and increased revenue. If it regains compliance, it will remain under panel monitoring for one year, as required by Nasdaq rules.
Financial structure faces pressure amid compliance efforts
The company’s stated strategy is to enhance cash flow and strengthen its equity position through debt reduction. Chief Executive Officer Gary Seaton said the extension would allow the company to complete its plan to stabilise its financial standing. No further details were provided regarding the debt conversion process or revenue projections.
Incorporated in the Cayman Islands as an exempted company, it operates in Australia through its subsidiaries. It produces and markets edible oils derived from non-genetically modified crops. Its cold-pressing facility is described as the largest of its kind in the country.
