ITEM 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
On July 6, 2022, IZEA Worldwide, Inc. (the "Company") received a notification
letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC
("Nasdaq") stating that, for the prior 30 consecutive business days (through
July 5, 2022), the closing bid price of the Company's listed securities had been
below the minimum of $1.00 per share required for continued inclusion on the
Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The notification
letter stated that the Company would be afforded 180 calendar days (until
January 2, 2023) to regain compliance. In order to regain compliance, the
Company's closing bid price must remain at $1.00 or more for a minimum of ten
consecutive business days. The notification letter also states that in the event
the Company does not regain compliance within the 180 day period, the Company
may be eligible for an additional 180 days to regain compliance. To qualify, the
Company will be required to meet the continued listing requirement for market
value of publicly held shares and all other initial listing standards for The
Nasdaq Capital Market, with the exception of the bid price requirement, and will
need to provide written notice of its intention to cure the deficiency during
the second compliance period, by effecting a reverse stock split, if necessary.
However, if it appears to the Nasdaq staff that the Company will not be able to
cure the deficiency, or if the Company is otherwise not eligible, Nasdaq staff
will provide notice to the Company that its securities will be subject to
delisting. At that time, the Company may appeal the delisting determination to a
Hearings Panel, but there can be no assurance that the Company's request for
continued listing would be granted.
The Nasdaq notification has no effect at this time on the listing of the
Company's common stock and the stock will continue to trade uninterrupted under
the symbol "IZEA". The Company intends to consider all available options to
regain compliance with the Nasdaq listing standards.
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