Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
As previously disclosed, the
On
In order to regain compliance with the Rule, the Company expects to proceed in
effecting a reverse stock split in the coming weeks. At the Annual Meeting of
Stockholders held on
Forward-Looking Statements
The information above includes "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical facts, included herein are forward-looking statements.
These forward-looking statements may be identified by their use of terms and
phrases such as "may," "expect," "believe," "intend," "estimate," "project,"
"plan," "anticipate," "will," "should," "could," and similar terms and phrases.
Although the Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve certain assumptions,
risks and uncertainties. These forward-looking statements represent the
Company's current expectations or beliefs concerning future events, and it is
possible that the results described in this Current Report on Form 8-K will not
be achieved. For example, there can be no assurance that the Company will meet
the bid price requirement as a result of the proposed Reverse Split or otherwise
in the future, meet Nasdaq compliance standards, or that Nasdaq will grant the
Company any relief from delisting as necessary or whether the Company can agree
to or ultimately meet applicable Nasdaq requirements for any such relief. These
forward-looking statements are subject to certain risks, uncertainties and
assumptions identified in this release or as disclosed from time to time in the
Company's filings with the
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors.
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