Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
As previously reported, on
On
The Company intends to continue to actively monitor the closing bid price of its
common stock and evaluate available options to regain compliance with the
Minimum Bid Price Requirement, including but not limited to implementing a
reverse stock split of its outstanding common stock (if approved by the
Company's stockholders). If the Company does not regain compliance by
Forward Looking Statements
This report contains forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. The use of words such as "expect", "intend", "may" and other similar expressions are intended to identify forward-looking statements. For example, all statements Sio makes regarding its intent and ability to regain compliance with Nasdaq's minimum bid price requirement and the Company's operations are forward-looking. All forward-looking statements are based on estimates and assumptions by Sio's management that, although Sio believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Sio expected. Such risks and uncertainties include, among others, the impact of the COVID-19 pandemic on Sio's operations; the actual funds required for Sio's planned operating activities, including exploration of strategic alternatives; costs, risks and timing related to capital conservation plans; the ability to explore and execute upon strategic alternatives; and the outcome of interactions with regulatory agencies.
These statements are also subject to a number of material risks and
uncertainties that are described in Sio's most recent Quarterly Report on Form
10-Q filed with the
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