Business Context and Reporting Period
Company: FiEE, Inc. (f/k/a Minim, Inc.)
Reporting Date: May 29, 2025
Exchange: The Nasdaq Capital Market (Symbol: MINM)
Context: The filing reports the resolution of a delisting threat and the resumption of trading following a review by the Nasdaq Hearing Panel.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or debt figures. The only financial metric disclosed is the confirmation of compliance with Nasdaq Listing Rule 5550(b)(1), requiring a minimum stockholders' equity of $2,500,000.
Material Changes and Regulatory Status
- Trading Resumption: Trading in the Company's securities will resume on Nasdaq on June 2, 2025.
- Compliance Determination: The Nasdaq Hearing Panel determined the Company is in compliance with listing rules.
- Public Reprimand: The Company received a public reprimand under Nasdaq Listing Rule 5815(c)(1)(D) for violating Rule 5635(b) (Change of Control Rule). The violation involved a February 2025 transaction that resulted in a change of control without prior shareholder approval.
- Panel Rationale: The Panel noted the transaction had the support of the largest stockholder and occurred while the Company was trading OTC, not on Nasdaq. The violation was deemed inadvertent and not materially adverse to shareholders.
Outlook, Risks, and Contingencies
- Panel Monitor: A "Panel Monitor" has been implemented for one year from May 29, 2025.
- Delisting Risk: If the Company becomes deficient in any continued listing requirement during the monitoring period, it will not be afforded the opportunity to submit a compliance plan to the Staff. Instead, the Staff will issue a Staff Delisting Determination immediately.
- Future Hearings: In the event of a new hearing regarding delisting, any suspension or delisting action would be stayed pending the completion of the process.
Investor Verification Checklist
- Verify the resumption of trading on June 2, 2025, on the Nasdaq Capital Market.
- Confirm the Company maintains the required $2,500,000 minimum stockholders' equity.
- Monitor for any future compliance deficiencies that could trigger immediate delisting proceedings without a standard cure period.
- Review the attached Press Release (Exhibit 99.1) for additional management commentary.