Innovative Solutions And Support (ISSC) has released an update to notify the public and investors about listing compliance status.
Innovative Solutions and Support, Inc. reported to Nasdaq that it had unintentionally failed to comply with the audit committee requirements due to a member, Parizad Olver Parchi, not being independent because of a payment her company received from a subsidiary of Innovative Solutions. To rectify this, the company replaced Ms. Olver with Mr. Stephen Belland on January 28, 2024, and subsequently regained compliance with Nasdaq’s listing rules after reporting the issue and receiving a letter of acknowledgment from Nasdaq on January 31, 2024.
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For a comprehensive understanding of the announcement, you can read the full document here.
