Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On
As with the Bid Price Deficiency Letter (as defined below), the Staff's
notification has no immediate effect on the Company's continued listing on The
Nasdaq Capital Market. In accordance with the Nasdaq Listing Rules, the Company
was provided 45 calendar days, or until
If the Staff does not accept the Compliance Plan, the Staff will provide written
notification to the Company that the Compliance Plan has been rejected, which
determination may be appealed to a
The Company plans to timely submit the Compliance Plan for the Staff's review, to monitor its stockholders' equity, and, to otherwise consider all available options to regain compliance with the Equity Requirement.
The notification is separate from, and in addition to, the previously disclosed
deficiency letter that the Company received from the Staff on
Forward-Looking Statements
Certain information contained in this Current Report on Form 8-K includes
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. We may in some cases use terms such as "predicts," "believes,"
"potential," "continue," "anticipates," "estimates," "expects," "plans,"
"intends," "may," "could," "might," "likely," "will," "should" or other words
that convey uncertainty of the future events or outcomes to identify these
forward-looking statements. Our forward-looking statements are based on current
beliefs and expectations of our management team that involve risks, potential
changes in circumstances, assumptions, and uncertainties, including statements
regarding the timing and content of our Compliance Plan, our ability to file the
Compliance Plan in accordance with Nasdaq rules, whether the Staff accepts the
Compliance Plan, our ability to regain compliance with the Nasdaq continued
listing requirements, and our financial condition, growth and strategies. Any or
all of the forward-looking statements may turn out to be wrong or be affected by
assumptions we make that later turn out to be incorrect, or by known or unknown
risks and uncertainties. These forward-looking statements are subject to risks
and uncertainties including risks related to our ability to regain compliance
with Nasdaq's continued listing requirements or otherwise maintain compliance
with any other listing requirement of the Nasdaq Capital Market, including the
Minimum Bid Price Requirement, timely file our Compliance Plan in accordance
with Nasdaq rules, our ability to submit a Compliance Plan that is acceptable to
the Staff, the potential de-listing of our shares from the Nasdaq Capital
Market due to our failure to comply with the Minimum Bid Price Requirement or
the Stockholders' Equity Requirement, and the other risks set forth in our
filings with the
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