Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
The Company has begun the recruitment process to the fill the vacancy on its Board of Directors and Audit Committee of the Board of Directors. In the event the Company does not regain compliance with Rule 5605 in time, Nasdaq rules require Nasdaq staff to provide written notification to the Company that its securities will be delisted. At that time, the Company may appeal the delisting determination to a Nasdaq hearings panel.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
The Company cautions that statements in this report that are not a description
of historical fact are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements may
be identified by the use of words referencing future events or circumstances
such as "expect," "intend," "plan," "anticipate," "believe," and "will," among
others. Because such statements are subject to risks and uncertainties, actual
results may differ materially from those expressed or implied by such
forward-looking statements. These forward-looking statements are based upon the
Company's current expectations and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the timing of
events could differ materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties, which include the
Company's efforts to regain compliance with Rule 5605. More detailed information
about the risks and uncertainties affecting the Company is contained under the
heading "Risk Factors" included in the Company's Annual Report on Form 10-K
filed with the
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