Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported, on
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was granted an
initial period of 180 calendar days from the date of the Notice, or until
If the Company does not regain compliance within the allotted compliance period(s), including any further extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Common Stock will be subject to delisting from the Nasdaq Capital Market.
The Company intends to continuously monitor the closing bid price for its Common Stock and is in the process of considering various measures to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, even if it maintains compliance with the other Nasdaq listing requirements, or that Nasdaq will grant the Company any further extension of time to regain compliance with the Minimum Bid Price Requirement or any other Nasdaq listing requirements, if applicable.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K (this "Form 8-K") contains forward-looking
statements. Forward-looking statements include, but are not limited to,
statements that express the Company's intentions, beliefs, expectations,
strategies, predictions or any other statements related to the Company's future
activities, or future events or conditions, which can be identified by
terminology such as "may," "will," "expects," "anticipates," "aims,"
"potential," "future," "intends," "plans," "believes," "estimates," "continue,"
"likely to" and other similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain these
identifying words. These statements are not historical facts and are based on
current expectations, estimates and projections about the Company's business
based, in part, on assumptions made by its management. These statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions that are difficult to predict, many of which are beyond the
Company's control, including, among other things, the Company's ability to
maintain its listing of Common Stock on the Nasdaq Capital Market, which may
cause the Company's actual results, performance and achievements to differ
materially from those contained in any forward-looking statement. Therefore,
actual outcomes and results may differ materially from what is expressed or
forecasted in the forward-looking statements due to numerous factors, including
those risks that may be included in the periodic reports and other filings that
the Company files from time to time with the
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