Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-03-18 21:14:38

Sphere 3D receives non-compliance notice from Nasdaq

Sphere 3D (NASDAQ:ANY) received a deficiency notice from Nasdaq, notifying that it was not in compliance with a listing rule that requires issuers to have an audit committee of at least 3 members who each meet the criteria for independence. ANY's non-compliance is due to an unsolicited discretionary bonus payment made by the company to Patricia Trompeter, an audit committee member, outside of board compensation for work on certain business initiatives. Trompeter resigned from the audit committee on Mar. 7, but she remains on ANY's board. ANY is preparing a Nasdaq-required plan of compliance, which will include the replacement of Trompeter on the audit committee.

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer