Farmmi Inc (NASDAQ:FAMI) shares are trading higher after the company announced it received the NASDAQ minimum bid requirement extension through May 30, 2022.

Farmmi confirmed the company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through May 30, 2022.  To regain compliance with NASDAQ's minimum bid price requirement, the closing bid price of Farmmi shares needs to be at least $1.00 per share or greater for at least ten consecutive business days by May 30, 2022.

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Farmmi acts as a supplier of agricultural products. Farmmi mainly focuses on processing and selling various categories of agricultural products such as Shiitake mushrooms, Mu Er mushrooms and other edible fungi.

Farmmi has a 52-week high of $2.47 and a 52-week low of $0.20.