Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S
COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock is listed on Nasdaq Global Select
Market, under the symbol “RLMD.” On January 21, 2025, we received a written notification from the Listing Qualifications
Department of the Nasdaq Stock Market (“Nasdaq”) notifying us that, for the 30 consecutive business days ended January 17,
2025, the Company’s common stock did not maintain a minimum bid price of $1.00 per share. Nasdaq stated in its letter that in accordance
with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days from the date of the notice (“Compliance
Period”), and that it may regain compliance if the closing bid of the Company’s security is at least $1 for a minimum of
ten consecutive business days during the Compliance Period, which will end on July 21, 2025. We intend to actively monitor the bid price
of our common stock during the Compliance Period and to take all reasonable measures available to regain compliance with the requirements
for continued listing on the Nasdaq Global Market. If we do not regain compliance with the continued listing requirements for the minimum
bid price by the end of the Compliance Period, the Nasdaq Staff will provide us with written notification that the common stock is subject
to delisting from the Nasdaq Global Market. Alternatively, Nasdaq Marketplace Rules may permit the Company to transfer the our common
stock to the Nasdaq Capital Market prior to the Compliance Date, if the common stock satisfies the criteria for continued listing on
such market. While we plan to make diligent efforts to maintain the listing of our common stock on Nasdaq, there can be no assurance
that we will be able to regain or maintain compliance with the applicable continued listing standards set forth in the Nasdaq Listing
Rules.
Holders
As of March 25, 2025, 33,191,202 shares of common stock were issued
and outstanding, which were held by 123 holders of record. These stockholders held their stock either individually or in nominee or “street”
names through various brokerage firms. There are no shares of our Class A convertible preferred stock outstanding. Our transfer agent
is:
Empire Stock Transfer
1859 Whitney Mesa Drive
Henderson, NV 89014
Telephone (702) 818-5898
www.empirestock.com
Inquiries regarding stock transfers, lost certificates
or address changes should be directed to the above address.
Dividends
We plan to retain any earnings for the foreseeable
future for our operations. We have never paid any cash dividends on our stock and do not anticipate paying any cash dividends in the
foreseeable future. Any future determination to pay cash dividends will be at the discretion of our Board of Directors and will depend
on our financial condition, operating results, capital requirements and such other factors as our Board of Directors deems relevant.
Unregistered Sales of Securities
There were no unregistered sales of securities
during the year ended December 31, 2024 that have not been previously reported in a Quarterly Report on Form 10-Q or in a Current Report
on Form 8-K.
40
ITEM
6. [RESERVED]