Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On
The Notice serves only as a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Ordinary Shares on The Nasdaq Capital Market. While the Company is exercising diligent efforts to maintain the listing of the Ordinary Shares on The Nasdaq Capital Market, there can be no assurance that the Company will be able to regain compliance with the MVLS Listing Requirement within the Compliance Period or otherwise maintain compliance with other continued listing requirements with respect to any of its listed securities. In addition, if the Company does not meet the MVLS Listing Requirement by the end of the Compliance Period, the Ordinary Shares will become subject to delisting. In the event the Company receives notice that the Ordinary Shares are being delisted, Nasdaq's rules permit the Company to appeal any delisting determination by the Nasdaq staff to a hearings panel.
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