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Micromobility.com , formerly Helbiz , was delist from the Nasdaq on Monday as a result of the fellowship ’s noncompliance with the stock exchange ’s itemization rules , according to a regulative filing .
Competitor Bird — the only other shared micromobility company to brave the public markets — was alsodelisted from the stock certificate exchangein September .
The caller ’s common line and warrants were suspended from trading at the start of business enterprise Wednesday .
Micromobility.com was sound off off the stock grocery for failing to maintain a share monetary value of at least $ 1 and for failing to comply with Nasdaq ’s lower limit stockholders ’ equity demand for continued itemization .
The company ’s stock hasstruggled to remain in compliancesincegoing publicvia special purpose accomplishment merger in 2021 . In March , the company publish areverse stock splitto bring the price back into compliance , the gains from which did n’t last long . Micromobility.com also recently said it mean to attempt approval for another reverse split at a special meeting of the stockholder schedule for January 2024 . That coming together has been table , as has the move to do another reverse split .
Micromobility.com pronounce in its filing that it will apply to have its plebeian parentage and warrants quoted to be traded over - the - counter . After Bird ’s delist in September , the troupe also prefer to move its stock to OTC market , as well . Bird lately issued layoffs and its third - quarter net profit show a society that could be tight to filing for bankruptcy .
Micromobility.com tell its conversion to OTC market will “ have no effect on the ship’s company ’s business or operations . ”The startup ’s rebrandaimed to capsule a get-up-and-go toward retail — Micromobility.com opened its first brick - and - trench mortar shop in SoHo , New York City in September and has ane - DoC sitefeaturing a lowly selection of east - water scooter , atomic number 99 - bike , helmets and water bottles .
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The startup’searningsshow a party that brought in $ 1.5 million in gross in the third - quarter at a net loss of $ 9.5 million . The Libra the Scales sheet also present that Micromobility.com ’s liabilities , at $ 61.7 million , vastly outweigh its assets , at $ 9.4 million .
The company ’s stock closed Monday at $ 0.44 .
Micromobility.com ’s delisting come as the divvy up micromobility industry ascertain itself in tumult . Superpedestrian shut downlast week and is exploring the sale of its European business . Tier Mobility in November bring out itsthird round of layoffsthis year , afterselling off Spin to Birda couple month originally .
Helbiz earns its name with punish 2021 net income
