What changed in this filing

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Item 1A. Risk Factors

2023-11-14 compared with 2023-08-14 · 30 added, 9 removed, 7 unchanged (85% of the section changed)

As of the date of this Quarterly Report on Form 10-Q,

there have been no material changes in the risk factors disclosed by us under Part I, Item 1A.

Risk Factors contained in the Annual Report

on Form 10-K for the fiscal year ended December 31, 2022, except we may disclose changes to such factors or disclose additional factors

from time to time in our future filings with the SEC.

Any of these factors could result in a significant or material adverse effect on

our results of operations or financial condition.

Additional risk factors not presently known to us or that we currently deem immaterial

may also impair our business or results of operations.

of the date of this Quarterly Report on Form 10-Q, there have been no material changes in the risk factors disclosed by us under Part

I, Item 1A except the notice related to the Nasdaq Listing Qualifications Department, mentioned as follows:

On March 16, 2023, the Company received a letter from Nasdaq Stock Market LLC (“Nasdaq”) that the

Company did not maintain a minimum closing bid price of $1 per share for its common stock, as required by Nasdaq listing rule 5550(a)(2).

The Company had 180 calendar days, or until September 12, 2023, to regain compliance.

On September 13, 2023, the Company received notice from the Nasdaq

Listing Qualifications Department (the “Staff”) of the Nasdaq advising that the Staff determined that the Company is eligible

for an additional 180 calendar day period, or until March 11, 2024, to regain compliance with its minimum bid price requirement rule under

Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) pursuant to the Nasdaq Listing Rule 5810(c)(3)(A).

notification has no immediate effect on the listing of the Company’s common stock, and its common stock will continue to trade

on The Nasdaq Capital Market under the symbol “SHFS” at this time.

The Company has a period of an additional 180 calendar

days, or until March 11, 2024, to regain compliance with the Minimum Bid Price Requirement.

If at any time before March 11, 2024, the

bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff

will provide written confirmation that the Company has achieved compliance and the matter will be closed.

can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement or will otherwise be in

compliance with other Nasdaq Listing Rules.

However, the Company intends to actively monitor the closing bid price for its common stock

and will consider available options to resolve the deficiency and regain compliance with the Minimum Bid Price Requirement, including

initiating a reverse stock split.

If the Company chooses to implement a reverse stock split, we must complete the reverse stock split

no later than 10 business days prior to the expiration date of the additional compliance period on March 11, 2024 in order to timely

regain compliance.

respect to the Risk Factors contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022, we may disclose

changes to such factors or disclose additional factors from time to time in our future filings with the SEC.

Any of these factors could

result in a significant or material adverse effect on our results of operations or financial condition.

Additional risk factors not presently

known to us or that we currently deem immaterial may also impair our business or results of operations.

Unregistered Sale of Equity Securities and Use of Proceeds.

6 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.

What changed 10-Q

Item 1A. Risk Factors