Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On May 13, 2022, Predictive Oncology Inc. (the "Company") received a letter (the
"Notice") from the Listing Qualifications Department of The Nasdaq Stock Market
LLC ("Nasdaq") indicating that the bid price for the Company's common stock had
closed below $1.00 per share for 30 consecutive business days, and that the
Company was therefore not in compliance with the minimum bid price requirement
for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule
5550(a)(2) (the "Minimum Bid Price Requirement"). The Notice stated that the
Company had 180 days, or until November 9, 2022, to regain compliance by
maintaining a closing bid price of at least $1.00 for a minimum of 10
consecutive trading days.
On November 10, 2022, Nasdaq notified the Company that while the Company had not
regained compliance with the Minimum Bid Price Requirement, it is eligible for
an additional 180-day calendar period, or until May 8, 2023, to regain
compliance. Nasdaq's determination was based on the Company meeting the
continued listing requirement for market value of publicly held shares and all
other applicable requirements for initial listing on The Nasdaq Capital Market,
with the exception of the Minimum Bid Price Requirement, and the Company's
written notice to Nasdaq of its intention to cure the deficiency during the
second compliance period by effecting a reverse stock split, if necessary.
If the Company does not regain compliance with the Minimum Bid Price Requirement
by May 8, 2023, Nasdaq will provide written notification to the Company that its
common stock will be delisted. At that time, the Company may appeal Nasdaq's
delisting determination to a Hearings Panel (the "Panel"). The Company's common
stock would remain listed pending the Panel's decision. There can be no
assurance that if the Company does appeal such a delisting determination by
Nasdaq to the Panel, that such appeal would be successful.
The Company intends to monitor the closing bid price of its common stock and
may, if appropriate, consider implementing available options to regain
compliance with the Minimum Bid Price Requirement, including effectuating a
reverse stock split.
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