−Removed: Our failure to meet the continued listing requirements of Nasdaq could result in a de-listing of our common stock.
−Removed: we fail to maintain the continued listing requirements of Nasdaq, including maintaining the minimum closing bid price requirement, Nasdaq
−Removed: will take steps to de-list our common stock.
−Removed: As a result of several factors, including but not limited to recent market sentiment concerning
−Removed: our industry, the ongoing outbreak of COVID-19 and its effects on the global marketplace, recent volatility in the financial markets generally
−Removed: due to the expectation of a tightening in monetary policy by the U.S.
−Removed: Federal Reserve and other geopolitical events, the per share price
−Removed: of our common stock has declined below the minimum bid price threshold required for continued listing.
−Removed: Such a de-listing would likely
−Removed: have a negative effect on the price of our common stock and would impair your ability to sell or purchase our common stock when you wish
−Removed: to do so, as well as adversely affect our ability to issue additional securities and obtain additional financing in the future.
−Removed: On November 9, 2022, we received a deficiency notice from Nasdaq (the
−Removed: “Deficiency Notice”) informing us that our common stock had failed to comply with the $1.00 minimum bid price required for
−Removed: continued listing under Nasdaq Listing Rule 5550(a)(2) (“Rule 5550(a)(2)”) based upon the closing bid price of our common
−Removed: stock for the 30 consecutive business days prior to the date of the Deficiency Notice.
−Removed: In accordance with Nasdaq Listing Rule 5810(c)(3)(A),
−Removed: we have been given 180 calendar days from September 9, 2022, or until May 8, 2023, to regain compliance with Rule 5550(a)(2).
−Removed: time before May 8, 2023 the bid price of our common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days,
−Removed: Nasdaq will provide us with written confirmation that we have regained compliance.
−Removed: If we do not regain compliance with Rule 5550(a)(2) by May 8, 2023,
−Removed: we may be afforded a second 180 calendar day period to regain compliance.
−Removed: To qualify, we would be required to meet the continued listing
−Removed: requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for
−Removed: the minimum bid price requirement.
−Removed: In addition, we would be required to notify Nasdaq of our intent to cure the deficiency during the
−Removed: second compliance period.
−Removed: the event of a de-listing or threatened de-listing, we would take actions to restore our compliance with Nasdaq Marketplace Rules, but
−Removed: we can provide no assurances that the listing of our common stock would be restored, that our common stock will remain above the Nasdaq
−Removed: minimum bid price requirement or that we otherwise will remain in compliance with the Nasdaq Marketplace Rules.
+Added: Our failure to meet
+Added: the continued listing requirements of Nasdaq Stock Market (“Nasdaq”) could result in a de-listing of our common stock.
+Added: we fail to maintain the continued listing requirements of Nasdaq, including maintaining the minimum closing bid price requirement of $1.00
+Added: per share, Nasdaq will take steps to de-list our common stock.
+Added: As a result of several factors, including but not limited to recent market
+Added: sentiment concerning our industry, the ongoing COVID-19 epidemic and its effects on the global marketplace, recent volatility in the financial
+Added: markets generally due to the expectation of a tightening in monetary policy by the U.S.
+Added: Federal Reserve and other geopolitical events,
+Added: the per share price of our common stock has declined below the minimum bid price threshold required for continued listing.
+Added: be delisted from Nasdaq, such a de-listing would likely have a negative effect on the price of our common stock and would impair your
+Added: ability to sell or purchase our common stock when you wish to do so, as well as adversely affect our ability to issue additional securities
+Added: and obtain additional financing in the future.
+Added: November 9, 2022, we received a deficiency notice from Nasdaq (the “Deficiency Notice”) informing us that our common stock
+Added: had failed to comply with the $1.00 minimum bid price required for continued listing under Nasdaq Listing Rule 5550(a)(1) (“Rule
+Added: 5550(a)(1)”) based upon the closing bid price of our common stock for the 30 consecutive business days prior to the date of the
+Added: Deficiency Notice.
+Added: In accordance with Nasdaq Listing Rule 5810(c)(3)(A), we have been given 180 calendar days from September 9, 2022,
+Added: or until May 8, 2023, to regain compliance with Rule 5550(a)(1).
+Added: Thus, if at any time before May 8, 2023 the bid price of our common stock
+Added: closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will provide us with written confirmation that
+Added: we have regained compliance.
+Added: If we do not regain compliance
+Added: with Rule 5550(a)(1) by May 8, 2023, we may be afforded a second 180 calendar day period to regain compliance.
+Added: To qualify, we would be
+Added: required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for
+Added: the Nasdaq, except for the minimum bid price requirement.
+Added: In addition, we would be required to notify Nasdaq of our intent and plan to
+Added: cure the deficiency during the second compliance period.
+Added: the event of a de-listing or threatened de-listing, we would take actions to restore our compliance with Nasdaq Rules, but we can provide
+Added: no assurances that the listing of our common stock would be restored, that our common stock will remain above the Nasdaq minimum bid price
+Added: requirement or that we otherwise will remain in compliance with the Nasdaq Rules.
RECENT SALES OF UNREGISTERED EQUITY SECURITIES
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.