Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported on a Current Report on Form 8-K filed with the
On
The Company intends to continue actively monitoring the closing bid price for the Company's common stock during the additional grace period, and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement. If the Company does not regain compliance within the additional grace period, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement during the 180-day additional grace period or maintain compliance with the other Nasdaq listing requirements.
Forward-Looking Statements
This report contains "forward-looking statements," within the meaning of the
Private Securities Litigation Reform Act of 1995, regarding, among other things,
the Company's plans to regain compliance with the Minimum Bid Price Requirement
and qualify for continued listing on The Nasdaq Capital Market, and the
potential implementation and completion of a reverse stock split. Such
forward-looking statements are based on current expectations and involve
inherent risks and uncertainties, including factors that could delay, divert or
change them, and could cause actual results to differ materially from those
projected in the forward-looking statements. Meaningful factors that could cause
actual results to differ include, but are not limited to, the continued failure
of the Company's common stock to trade at prices above
The forward-looking statements in this report speak only as of the date of this report (unless another date is indicated). The Company undertakes no obligation, and specifically declines any obligation, to publicly update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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