Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 22, 2020, Fellazo Inc. (the "Company") received a written notice (the
"Notice") from the Staff of the Listing Qualifications Department (the "Staff")
of The NASDAQ Stock Market LLC ("Nasdaq") stating that (a) the Company failed to
provide complete responses in connection with an additional information request
pursuant to Nasdaq Listing Rule 5250(a)(1), and (b) the compensation committee
of the Company failed to determine, or recommend to the board for determination,
the compensation of the chief executive officer and all other executive officers
of the Company pursuant to the Nasdaq Listing Rule 5605(d)(1)(B). Pursuant to
the Notice, each of the above deficiencies serves as an additional basis for
delisting the Company's securities from Nasdaq.
The Company originally received a determination from the Staff on December 13,
2019 to delist the Company's securities for its failure to (a) timely file its
Form 10-Q as required by Nasdaq Listing Rule 5250(c)(1), and (b) disclose
certain information as required by Nasdaq Listing Rule 5250(b)(1).
As reported on the Company's Report on Form 8-K filed on January 8, 2020, the
Company appealed the Staff's determination on December 20, 2019 and a hearing
has been scheduled for February 6, 2020.
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