Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On December 31, 2019, we received a letter from the Nasdaq Stock Market ("Nasdaq") stating that the closing bid price of our company's common stock was below the minimum bid price of $1.00 per share required by Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") for at least 30 consecutive business days. In accordance with Listing Rule 5810(c)(3)(A), our company has a compliance period of 180 days, or until June 29, 2020, to regain compliance with the Minimum Bid Price Requirement. In order to regain compliance, our common stock must maintain a consolidated bid price of $1.00 or greater for a minimum of ten consecutive business days during the compliance period.

If compliance with the Minimum Bid Price Requirement cannot be demonstrated by June 29, 2020, then our company may be eligible for a second 180-day period to regain compliance. To be eligible, our company will be required to meet continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market (except the Minimum Bid Price Requirement) and we will need to provide Nasdaq with written notice of its intention to cure the deficiency during the second compliance period, which may take the form of a reverse stock split. If we do not regain compliance with the Minimum Bid Price Requirement prior to June 29, 2020 and are not eligible for the second compliance period, or if it appears to the Nasdaq staff that our company will not be able to regain compliance, then our common stock will be subject to delisting. At such time, we may have an opportunity to appeal Nasdaq's delisting determination.

The notice from Nasdaq has no immediate effect on the trading of our common stock and our common stock is expected to remain listed on The Nasdaq during the compliance period(s).

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