Netcapital Regains Nasdaq Bid Price Compliance

Netcapital Inc. regained compliance with the minimum bid price requirement of The Nasdaq Stock Market LLC after its common stock closed at or above $1.00 per share for 10 consecutive business days between September 23 and October 6, 2026. This action resolves a bid price deficiency that the company first encountered in February 2026.

To address separate reporting failures, the company's Audit Committee appointed Adeptus Partners, LLC as its new independent registered public accounting firm. Adeptus replaces Fruci & Associates II, PLLC, which resigned on August 12, 2026. The new firm will audit consolidated financial statements from 2022 through 2026 to facilitate the restatement of prior-period financial statements and the filing of delinquent periodic reports.

Despite the recovery of its stock price, Netcapital remains out of compliance with Nasdaq Listing Rule 5250(c)(1) because it has not filed required annual and quarterly reports. The company intends to submit a formal compliance plan to the exchange by October 23, 2026.