Item 3.01 - Notice of Delisting or Failure to Satisfy a Continued Listing Rule
or Standard; Transfer of Listing
On June 1, 2020 we received a letter (the "Deficiency Letter") from the staff of
the NYSE American (the "Exchange") indicating that AgeX does not meet certain of
the Exchange's continued listing standards as set forth in Section 1003(a)(i) of
the Exchange Company Guide in that we have stockholders equity of less than
$2,000,000 and have incurred losses from continuing operations and/or net losses
during our two most recent fiscal years. Pursuant to Section 1009 of the
Exchange Company Guide and as provided in the Deficiency Letter we may provide
the Exchange staff with a plan (the "Plan") by July 1, 2020 advising the
Exchange staff of action we have taken and will take that would bring AgeX into
compliance with the Exchange's continued listing standards by December 1, 2021.
We intend to submit a Plan by the July 1, 2020 deadline.
There is no assurance that the Exchange staff will accept the Plan. If the
Exchange staff accepts the Plan, the Exchange staff will review AgeX's
compliance with the Plan on a quarterly basis and if AgeX does not show progress
consistent with the Plan or is not in compliance with the Exchange's continued
listing standards by December 1, 2021, the Exchange will commence delisting
procedures. If the Exchange staff does not accept the Plan, the Exchange staff
will promptly initiate delisting proceedings.
AgeX intends to make arrangements to have its common stock quoted on the OTC
Bulletin Board if its common stock is delisted from the NYSE American.
Item 9.01 - Financial Statements and Exhibits.
Exhibit Number Description
99.1 Press release dated June 5, 2020
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