Item 2.02 Results of Operations and Financial Condition.
On November 17, 2021, U.S. Global Investors, Inc. issued a press release
reporting results of non-cash adjustments to its financial statements for
periods ended March 31, 2021. A copy of the press release is attached and being
furnished as Exhibit 99.1.
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
The Company received a standard notification letter dated November 17, 2021 (the
"Nasdaq notice") from the Nasdaq Listing Qualifications Department of Nasdaq
notifying the Company it is not in compliance with Nasdaq Listing Rule 5250
(c)(1), because the Company remains delinquent in filing its Form 10-K for the
fiscal year ended June 30, 2021, and has not filed its September 30, 2021, Form
10-Q.
The Nasdaq notice has no immediate impact on the listing or trading of the
Company's common stock on the Nasdaq Capital Market. The notice reminds the
Company that it has until December 17, 2021, (that is, 60 calendar days from the
date of the October 18, 2021, Nasdaq notice) to submit to Nasdaq a plan (the
"Compliance Plan") to regain compliance with the Nasdaq Listing Rules. If Nasdaq
accepts the Compliance Plan, Nasdaq can grant the Company an exception to extend
for an additional 180 calendar days from the extended due date of the Form 10-K
filing date, or April 11, 2022, to regain compliance. The Company is working
diligently to file its Form 10-K.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 - Press Release issued by U.S. Global Investors, Inc. dated
November 17, 2021, reporting results of non-cash adjustments to its financial
statements for periods ended March 31, 2021.
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