Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 28, 2021, the Company received notice from the NYSE American LLC
("NYSE American") that the NYSE American had accepted the Company's plan to
regain compliance with the continued listing standards of the NYSE American. The
Company has been granted a plan period through May 18, 2022 to regain
compliance. The plan was submitted by the Company on December 18, 2020 as a
result of the notification from the NYSE American to the Company on November 18,
2020 indicating that, as a result of the Company's stockholders' equity of $4.7
million as of September 30, 2020, and reported losses for each of the last five
fiscal years, the Company is not in compliance with the stockholders' equity
standards for continued listing on the NYSE American. The notice had no
immediate effect on the listing or trading of the Company's common stock.
NYSE American Regulations staff will review the Company periodically for
compliance with the initiatives outlined in the plan. If the Company is not in
compliance with the continued listing standards by May 18, 2022 or if the
Company does not make progress consistent with the plan during the plan period,
NYSE Regulation staff will initiate delisting proceedings as appropriate.
Item 8.01 Other Events.
On February 2, 2021, the Company issued a press release announcing the notice
from the NYSE American. A copy of the press release is filed herewith as Exhibit
99.1.
Item 9.01. Financial Statements and Exhibits.
Exhibit Number Description
99.1 Press release dated February 2, 2021 regarding NYSE American
notice.*
*Filed herewith.
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