Maison Solutions Inc (MSS) News & EventsMSSMaison Solutions Inc

Maison Solutions Receives Nasdaq Compliance Notification

Maison Solutions received a notification letter from the Listing Qualifications staff of The Nasdaq Stock Market stating that, because the Company had not timely filed its Quarterly Report on Form 10-Q for the quarter ended July 31, and because the Company remains delinquent in filing its Annual Report on Form 10-K for the fiscal year ended April 30, it is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the U.S. Securities and Exchange Commission. The notification has no immediate effect on the listing of the Company's Class A common stock, which continues to trade on The Nasdaq Capital Market under the symbol "MSS." Under the Nasdaq listing rules, the Company has until October 19 to submit to Nasdaq a plan to regain compliance with the rule. As previously disclosed, on August 20, the Company received a notification from Nasdaq concerning the late filing of the Form 10-K. The October 19 deadline to submit a plan to regain compliance was established in that earlier notification and remains unchanged following receipt of the September 23 notification. If Nasdaq accepts the plan, it may grant the Company an exception of up to 180 calendar days from the Form 10-K's due date, or until February 9, 2027, to file the Form 10-K and the Form 10-Q to regain compliance. If Nasdaq does not accept the plan, the Company may appeal the determination to a Nasdaq Hearings Panel.

Maison Solutions Issues Letter to Shareholders Promising Operational Improvements

Maison Solutions issued a letter to shareholders from John Xu, Chairman, President and CEO, which read in part, "The past year has not been easy for our shareholders. Our stock price has experienced significant volatility, while the Company has faced underperforming store operations, pending stockholder derivative litigation, corporate governance matters, capital structure challenges and concerns regarding dilution and shareholder value. We recognize that the Company has not yet delivered the results that our shareholders reasonably expect. We also understand that confidence cannot be rebuilt through announcements alone. It must be earned through completed transactions, stronger operating performance, financial discipline, improved governance and measurable progress. At the same time, we believe the Company's current public equity valuation does not fully reflect the long-term potential of its continuing operations and strategic initiatives...Over the coming quarters, management intends to focus on a defined set of priorities: Completing the divestiture of the San Gabriel and Monrovia store operations in accordance with the applicable agreements and closing conditions; Improving the profitability and cash-flow profile of the Company's continuing grocery business; Working toward final resolution of the stockholder derivative litigation, subject to court approval; Implementing stronger corporate governance and internal-control processes; Completing the contemplated formation and capitalization of Maison AI; Advancing practical technology deployment and commercialization efforts; and Evaluating potential share repurchases when legally, contractually and financially appropriate. Progress should ultimately be measured not by the number of announcements we issue, but by the transactions we complete, the operating improvements we achieve and the value we create...To those shareholders who have stayed with us, I want you to know that your concerns are heard, your frustration is understood, and your support is not taken for granted. There is no single announcement, transaction or financing that will resolve every challenge facing the Company. Restoring Maison Solutions will require a series of difficult decisions, consistent execution and greater financial discipline. It will also take time. We are not asking shareholders to rely on promises alone. We are asking for the opportunity to demonstrate, through completed transactions, improved operations, stronger governance and responsible capital allocation, that this Company can move forward."

Maison Solutions Signs Agreement to Establish Maison AI

Maison Solutions has signed a definitive agreement to establish Maison AI Limited, a majority-controlled technology platform focused on artificial intelligence applications for grocery retail, supply-chain management and enterprise operations. Upon completion of the contemplated formation and capitalization, Maison Solutions, through its wholly owned subsidiary AZLL, is expected to own approximately 90.09% of Maison AI, providing the Company with strategic and operational control of the platform. The formation and capitalization of Maison AI, including the parties' entry into a shareholders agreement, remain subject to the satisfaction of customary closing conditions. There can be no assurance that the transaction will be completed on the contemplated terms or timing. Maison AI is intended to combine Maison Solutions' retail operating experience with existing software assets and AI-enabled technologies. The platform is expected to focus on inventory management, merchandising, procurement, vendor coordination, supply-chain automation, enterprise resource planning, data analytics, AI agents and related software services. As part of the transaction, Maison Solutions expects to contribute the merchandise-display planning and management system and the supply-chain and business-operation system to Maison AI. These software assets are expected to provide an initial foundation for further integration, development and commercialization.