Luxury ski wear brand Perfect Moment, owned by British-Swiss entrepreneurial couple Jane and Max Gottschalk, has received a notification letter from the NYSE American, LLC stating that the company is not in compliance with the minimum stockholders’ equity requirements of Section 1003(a)(ii) of the NYSE American Company Guide, which requires stockholders’ equity of $4.0 million or more if the company has reported losses from continuing operations and/or net losses in three of the four most recent fiscal years.

As of September 30, 2024, the Company had stockholders’ equity of $2.7 million and incurred losses in its three most recent fiscal years ended March 31, 2024.

The company has until Jan. 10, 2025, to submit a plan of actions it has taken or will take to regain compliance with the continued listing standards by June 11, 2026.

Perfect Moment has announced its intention to submit a remediation plan for compliance with the NYSE American listing standards. If the NYSE American accepts the plan, the company can continue its listing during the plan period. It will be subject to periodic reviews, including quarterly monitoring of compliance with the plan until it has regained compliance. If the NYSE American does not accept the Company’s Plan, the Letter states that delisting proceedings will commence. The Company may appeal a Staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.

The Letter has no immediate effect on the listing or trading of the Company’s common stock on the NYSE American. The Company’s receipt of the Letter from the NYSE American does not affect the Company’s business, operations or reporting obligations to the U.S. Securities and Exchange Commission.

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