05:00 PM EDT, 10/18/2024 (MT Newswires) -- MultiMetaVerse Holdings ( MMV ) said Friday it was notified by the Nasdaq that the company is not in compliance with the stock exchange's $1 minimum bid price rule as well as the requirement to maintain a minimum market value of listed securities of $35 million.

The letter stated that the company failed to regain compliance with the two listing rules during an extension period that ended on Oct. 14, MultiMetaVerse ( MMV ) said.

The company said it has until Oct. 22 to request a hearing with Nasdaq's hearings panel, which it intends to proceed with.