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RICEBRAN TECHNOLOGIES

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RICEBRAN TECHNOLOGIES : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)

07/28/2020 | 04:20pm EDT

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On July 27, 2020, RiceBran Technologies (the "Company") received a notice from the listing qualifications department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that for 30 consecutive business days, the bid price of the Company's common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 5550(a)(2). This notice has no immediate effect on the Company's Nasdaq listing or the trading of its common stock.

In accordance with Nasdaq Marketplace Rule and 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification, or until January 25, 2021, to regain compliance with the minimum bid price requirement. If at any time before January 25, 2021, the bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement, and the matter would be resolved. The notice letter also disclosed that if the Company does not regain compliance within the initial compliance period, it may be eligible for an additional 180-day compliance period. To qualify for additional time, the Company would 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 would need to provide written notice of a plan to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days to regain compliance. However, if it appears to the staff of Nasdaq that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, the staff would notify the Company that it will not be granted additional 180 days for compliance and will be subject to delisting at that time. In the event of such notification, the Company may appeal the staff's determination to delist its securities. There are no assurances that Nasdaq will grant extensions of time within which to achieve compliance.

The Company's Board of Directors and management will consider available strategies in an effort to satisfy the minimum bid price requirement.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 33,7 M - -
Net income 2021 -1,40 M - -
Net Debt 2021 - - -
P/E ratio 2021 -35,7x
Yield 2021 -
Capitalization 48,6 M 48,6 M -
Capi. / Sales 2021 1,44x
Capi. / Sales 2022 1,32x
Nbr of Employees -
Free-Float 93,5%
Chart RICEBRAN TECHNOLOGIES
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Technical analysis trends RICEBRAN TECHNOLOGIES
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 1,50 $
Last Close Price 1,07 $
Spread / Highest target 40,2%
Spread / Average Target 40,2%
Spread / Lowest Target 40,2%
EPS Revisions
Managers and Directors
NameTitle
Todd Mitchell Chief Financial Officer, Secretary & Executive VP
Peter G. Bradley Executive Chairman
Robert DePaul Vice President-Operations
Sherry Rhoads VP-Compliance, Regulatory & External Affairs
Brent D. Rosenthal Lead Independent Director
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