Perfect Moment plans to regain compliance with NYSE American

Perfect Moment (PMNT) has received notice of acceptance from the NYSE American of the company’s plan to regain compliance with the exchange’s continued listing requirements. The plan details the company’s strategy to regain compliance with continued listing standards for stockholders’ equity by June 11 2026. The exchange notified Perfect Moment on December 11, 2024, and on March 4 regarding the company’s stockholders’ equity which currently stands below the required threshold due to reported losses in recent fiscal years. “Acceptance of our compliance plan by NYSE American provides us a clear pathway to regaining compliance,” stated Perfect Moment president and chief creative officer, Jane Gottschalk. “We are actively pursuing a number of strategic initiatives aimed at strengthening our financial position and delivering greater value to our shareholders.” These initiatives include the company’s expansion into the larger and faster-growing luxury outerwear market, broadening its brand appeal from the slope to the city and extending its traditional fall/winter selling season throughout the year. The company recently announced the strengthening of its production and management team with key hires from Canada Goose to support its growth and market expansion. Chath Weerasinghe, the company’s new CFO and COO who recently joined from Canada Goose (GOOS), commented: “We continue to make significant progress across our margin expansion projects, which has included the opening of our first U.S. distribution center. This new center has enabled us to improve our operating efficiency and customer experience while lowering duty cost and outbound and return shipping cost for the U.S. market.” As a result of these lower costs, the company reported a gross margin improvement of 273 basis points for the fiscal third quarter.