LiveOne (LVO) has regained compliance with Nasdaq market rules requiring the shares of listed companies to fetch at least $1 each, the music and entertainment company said on Friday.

The company received notice from the Nasdaq stock market on Nov. 12 that the closing price of its stock had dropped under the $1 per share minimum for 30 days in a row, it said. At the time, it said the notice was not expected to have an immediate impact on the trading of LiveOne shares, adding under Nasdaq rules, it had 180 days to resolve the compliance issue.

LiveOne closed nearly 12% higher this afternoon and was extending its advance during Friday's late session, recently climbing almost 1%.