Item 8.01 - Other Events.
On
As previously disclosed, on
The Company's common stock will be transferred to the Nasdaq Capital Market
effective at the opening of business on
To regain compliance with the minimum bid price requirement and qualify for
continued listing on the Nasdaq Capital Market, the minimum bid price per share
of the Company's common stock must be at least
As previously disclosed,
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This Current Report on Form 8-K contains forward-looking statements, including,
but not limited to, statements regarding the Company's ability to regain
compliance with the minimum bid price requirement, the Company's plans to
implement a reverse stock split, if necessary, to regain compliance with the
minimum bid price requirement and the Company's belief that maintaining its
listing on Nasdaq has the potential to enable a favorable strategic transaction
by increasing the range and attractiveness of strategic alternatives that the
Company is able to consider, which are based on the Company's current
expectations and inherently involve significant risks and uncertainties. The
Company's actual results and the timing of events could differ materially from
those anticipated in such forward-looking statements as a result of these risks
and uncertainties, including the risk that the Company may not meet the minimum
bid price requirement during the second 180-day grace period or in the future,
the risk that the Company may not otherwise meet the requirements for continued
listing under the Nasdaq Listing Rules, the risk that Nasdaq may not grant the
Company relief from delisting, if necessary, the risk that the Company may not
be successful in identifying one or more strategic alternatives or ultimately
pursuing a strategic alternative that delivers the anticipated benefits or
enhances shareholder value, among other risks and uncertainties. A further
description of the risks and uncertainties relating to the business of the
Company is contained in the Company's most recent annual report on Form 10-K and
the Company's quarterly reports on Form 10-Q, as well as any amendments thereto
reflected in subsequent filings with the
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