Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule

or Standard.

On March 8, 2022, Yunhong CTI Ltd. ("CTI" or the "Company"), received written notice (the "Notice") from The Nasdaq Capital Market ("Nasdaq") stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Rule") because the Company's common stock failed to maintain a minimum closing bid price of $1.00 for 30 consecutive business days. The Notice has no immediate effect on the Nasdaq listing or trading of the Company's common stock.

The Notice provides an initial 180 calendar day period, or until September 5, 2022, in which to regain compliance, pursuant to Listing Rule 5810(c)(3)(A). If, at any time before that date the bid price of the Company's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Nasdaq will notify the Company that it has achieved compliance with the Minimum Bid Price Rule.

As previously reported, on January 12, 2022, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that it did not comply with the annual meeting requirement for continued listing set forth in Listing Rules 5620 (the "Annual Meeting Rule") due to its failure to hold an annual meeting of stockholders within twelve months of the end of the Company's fiscal year ending December 31, 2020. On March 8, 2022, the Company received a letter from Nasdaq (the "Letter") that Nasdaq has determined to grant the Company an extension until June 17, 2022 to regain compliance with the Annual Meeting Rule by holding an annual meeting of shareholders. Failure to regain compliance with standards for continued listing would result in the ultimate de-listing of CTI's common stock, ticker symbol "CTIB", from Nasdaq.

The Company intends to actively monitor the closing bid price of its common stock and will evaluate available options to regain compliance with the Minimum Bid Price Rule. The Company also intends to hold the annual shareholder meeting by June 17, 2022 to regain compliance with the Annual Meeting Rule.

This summary is not intended to include all terms of the Notice and the Letter, which are filed as Exhibits 99.1 and 99.2 respectively to this Current Report on Form 8-K and are incorporated by reference into this Item 3.01.

Item No. 9.01 - Financial Statements and Exhibits



   Exhibit No. Exhibit

   99.1          Notice from Nasdaq, dated March 8, 2022.

   99.2          Letter from Nasdaq, dated March 8, 2022.

   104         Cover Page Interactive Data File (embedded within the Inline XBRL
               document)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses