ParaZero Technologies (PRZO) said Friday it has received a notice from Nasdaq stating that it's not in compliance with the stock exchange's minimum bid price requirement for continued listing.

The rule requires listed securities to keep a minimum bid price of $1 per share, the company said.

The company has until Oct. 7 to regain compliance with the requirement, it said.

ParaZero said the notice has no immediate effect on its Nasdaq listing or the trading of its shares.