MIAMI, FL – EzFill Holdings Inc. (NASDAQ:EZFL), a company operating in the retail-auto dealers and gasoline stations sector, has regained compliance with Nasdaq's listing rules following the successful holding of its annual stockholders meeting, according to a recent 8-K filing with the U.S. Securities and Exchange Commission.
The company, which had previously been notified of non-compliance due to not holding an annual meeting within the required timeframe after the end of its fiscal year on December 31, 2023, conducted the meeting on January 16, 2025. This move follows the filing of a definitive proxy statement with the SEC on December 31, 2024.
EzFill Holdings reported the voting results of the annual meeting in a Form 8-K filed on January 21, 2025. Subsequently, on January 22, 2025, the company received a letter from the Nasdaq Listing Qualifications Staff confirming that it had fulfilled the necessary requirements and the matter was now closed.
This development comes after the company was previously warned by Nasdaq on January 10, 2025, for not meeting the Rule 5620(a) that mandates the holding of an annual stockholders meeting within a year after the fiscal year-end.
The closure of this compliance issue marks a positive administrative step for EzFill Holdings, ensuring its continued listing on the Nasdaq Capital Market.
The information in this article is based on a press release statement from EzFill Holdings Inc. and serves to inform stakeholders of the company's current regulatory standing with Nasdaq.
In other recent news, EzFill Holdings Inc. has been busy securing various funding agreements to support its operational needs. The company has secured a $1 million promissory note with Alcourt LLC, which carries a 15% annual interest rate and includes an original issue discount of $50,000. mOREOVER, EzFill has entered into multiple agreements with NextNRG Holding Corp, including a $580,000 loan, $990,000 in promissory notes, and a $181,500 loan.
In terms of company governance, EzFill has confirmed the re-election of its board of directors and the ratification of M&K CPAs, PLLC as its independent registered public accounting firm. However, the company has been notified by The Nasdaq Stock Market LLC that it no longer meets Nasdaq's continued listing requirements due to the company's failure to hold its annual stockholders' meeting within the stipulated timeframe.
In strategic developments, EzFill has announced its plans to acquire the fueling division of Yoshi, Inc., a move expected to enhance its national expansion efforts. Furthermore, the company has revised its agreement with NextNRG Holding Corp. shareholders, adjusting the total shares to be issued from 40 million to 100 million as part of its planned acquisition of NextNRG.
These recent developments are based on EzFill Holdings' SEC filings and the company's ongoing relationship with NextNRG. Investors should note that these developments are based on EzFill Holdings' SEC filings and the company's ongoing relationship with NextNRG.
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