0001213900-24-044931.txt : 20240520 0001213900-24-044931.hdr.sgml : 20240520 20240520091510 ACCESSION NUMBER: 0001213900-24-044931 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240514 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing FILED AS OF DATE: 20240520 DATE AS OF CHANGE: 20240520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OLB GROUP, INC. CENTRAL INDEX KEY: 0001314196 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 133712553 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39435 FILM NUMBER: 24962612 BUSINESS ADDRESS: STREET 1: 1120 AVENUE OF THE AMERICAS STREET 2: 4TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-278-0900 MAIL ADDRESS: STREET 1: 1120 AVENUE OF THE AMERICAS STREET 2: 4TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 8-K 1 ea0206509-8k_olb.htm CURRENT REPORT
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 14, 2024 

 

THE OLB GROUP, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   000-52994   13-4188568
(State or other jurisdiction of
incorporation or organization)
  (Commission File Number)   (I.R.S. Employer
Identification Number)

 

1120 Avenue of the Americas, 4th Floor,
New York
, NY
  10036
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (212) 278-0900

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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.

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.0001 par value   OLB   Nasdaq Capital Market

 

 

 

 

 

 

Item 3.01 Notice of Delisting or Failure To Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

Reference is made to that certain Current Report on Form 8-K filed by The OLB Group, Inc. (the “Company”) on May 19, 2023 with the Securities and Exchange Commission disclosing that the Company had received a letter from the staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with certain of the continued listing rules of Nasdaq. Specifically, the Staff notified the Company that the bid price of the Company’s common stock had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, the Company did not comply with Listing Rule 5550(a)(2) (the “Bid Price Rule”). On May 14, 2024, having not regained compliance with the Bid Price Rule, the Company received a letter from the Staff notifying the Company that, unless the Company timely requests a hearing, the Company’s common stock would be subject to delisting.

 

However, on May 17, 2024, the Company received an additional letter from the Staff indicating that for the last 10 consecutive business days, from May 6, 2024 to May 17, 2024, the closing bid price for the Company’s common stock has been at $1.00 per share or greater. Accordingly, the Staff has deemed that the Company has regained compliance with the Bid Price Rule and they consider this matter closed. Therefore, the Company will not be required to request a hearing with the Staff and its shares of common stock will continue to be listed on Nasdaq.

 

1

 

 

SIGNATURE

 

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.

 

Dated: May 20, 2024

 

  THE OLB GROUP
   
  By: /s/ Ronny Yakov
  Name:  Ronny Yakov
  Title: Chief Executive Officer

 

 

2

 

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