Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On March 13, 2020, Sunworks, Inc. (the "Company") received a letter from The
Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has failed to
comply with the minimum bid price requirement of Nasdaq Listing Rule 5550(a)(2).
Nasdaq Listing Rule 5550(a)(2) requires that companies listed on the Nasdaq
Capital Market maintain a minimum closing bid price of at least $1.00 per share.
Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has a 180 calendar day
grace period to regain compliance by meeting the continued listing standard. To
regain compliance, the closing bid price of the Company's common stock must meet
or exceed $1.00 per share for a minimum of ten consecutive business days during
this grace period.
The Company is monitoring the bid price of its common stock and will consider
options available to it to achieve compliance.
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