UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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(Address and telephone number, including area code, of registrant's principal executive offices) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act: None.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On July 6, 2023, Ainos, Inc. (the “Company”) received notice from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) advising that Staff has determined that the Company is eligible for an additional 180 calendar day period, or until January 2, 2024, to regain compliance with its minimum bid price requirement pursuant to the Nasdaq Listing Rule 5810(c)(3)(A).
The notification has no immediate effect on the listing of the Company's common stock on Nasdaq. The Company has a period of an additional 180 calendar days from the date of notification, which occurred on July 5, 2023, or until January 2, 2024 to regain compliance with the minimum bid price requirement during which time the Company's stock will continue to trade on Nasdaq, provided the Company continues to meet the other applicable listing requirements, with the exception of the bid price requirement. If at any time during this additional time period the closing bid price of the Company’s security is at least $1 per share for a minimum of 10 consecutive business days, Staff will provide written confirmation that the Company has achieved compliance with the minimum bid price requirement.
If the Company chooses to implement a reverse stock split, we must complete the split no later than 10 business days prior to the expiration date of January 2, 2024 in order to timely regain compliance.
The Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider available options to regain compliance with the Minimum Bid Price Requirement, including initiating a reverse stock split. However, there can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with other Nasdaq Listing Rules.
Forward-Looking Statements
This Current Report on Form 8-K (this “Form 8-K”) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements that express the Company’s intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company’s future activities, or future events or conditions, which can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “potential,” “future,” “intends,” “plans,” believes,” “estimates,” “continue,” “likely to,” and other similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are not historical facts and are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, many of which are beyond the Company’s control, including, among other things, the Company’s ability to maintain its listing of Common Stock on The Nasdaq Capital Market, which may cause the Company’s actual results, performance and achievements to differ materially from those contained in any forward-looking statement. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks that may be included in the periodic reports and other filings that the Company files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this Form 8-K, except as required by applicable law.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Ainos, Inc. | |||
Date: July 6, 2023 | By: | /s/ Chun-Hsien Tsai | |
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| Name: Chun-Hsien Tsai | |
Title: Chief Executive Officer | |||
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Cover |
Jul. 06, 2023 |
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Cover [Abstract] | |
Entity Registrant Name | AINOS, INC. |
Entity Central Index Key | 0001014763 |
Document Type | 8-K |
Amendment Flag | false |
Entity Emerging Growth Company | false |
Document Period End Date | Jul. 06, 2023 |
Entity File Number | 0-20791 |
Entity Incorporation State Country Code | TX |
Entity Tax Identification Number | 75-1974352 |
Entity Address Address Line 1 | 8880 Rio San Diego Drive |
Entity Address Address Line 2 | Ste. 800 |
Entity Address City Or Town | San Diego |
Entity Address State Or Province | CA |
Entity Address Postal Zip Code | 92108 |
City Area Code | 858 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Local Phone Number | 869-2986 |
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