8-K 1 tv519589_8k.htm FORM 8-K

 

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  April 26, 2019 (April 23, 2019)

 

Moxian, Inc.

(Exact name of registrant as specified in its charter)

 

Nevada   000-55017   27-3729742
(State or other jurisdiction
of incorporation)
 

(Commission File

Number)

  (IRS Employer
Identification Number)

 

Units B & C, 9/F, Block D Fuhua Tower,
8 Chaoyangmen North Street Dongcheng District,
Beijing 100027 People’s Republic of China

(address of principal executive offices) (zip code)

 

Tel: +86 (010) 5332 0602

(registrant’s telephone number, including area code)

 

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 (see General Instruction A.2. below):

 

¨ 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 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.

 

As previously disclosed, on October 23, 2018, Moxian, Inc. (the “Company”) received a written notice from Nasdaq that the bid price of its listed security had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, did not comply with Nasdaq Listing Rule 5550(a)(2) (the “Rule”). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until April 22, 2019 to regain compliance with the Rule.

 

On April 23, 2019, the Company received an additional written notice (the “Notice”) from Nasdaq. As described in the Notice, the Company has not regained compliance with the Rule and is not eligible for a second 180 day period. Specifically, although the Company implemented a reverse stock split on April 22, 2019, the Company needs maintain a bid price of $1 or greater for a minimum of 10 consecutive business in order to regain compliance with the Rule. Additionally, the Company does not meet Nasdaq’s initial listing requirements to be eligible for a second grace period.

 

Accordingly, unless the Company requests an appeal of this determination, Nasdaq has determined that the Company’s securities will be scheduled for delisting from The Nasdaq Capital Market and will be suspended at the opening of business on May 2, 2019 and a Form 25-NSE will be filed with the Securities and Exchange Commission (the “SEC”), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market.

 

The Company may appeal the NASDAQ Staff’s determination to a Hearings Panel (the “Panel”), pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A hearing request will stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the Panel’s decision. The request for a hearing must be submitted no later than April 30, 2019.

 

The Company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “MOXC” at least pending the ultimate conclusion of the hearing process. The Company expects to request an appeal of Nasdaq’s determination prior to the deadline.

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MOXIAN, INC.
     
Date: April 26, 2019 By:   /s/ Tan Wan Hong  
    Name:   Tan Wan Hong  
    Title: Chief Financial Officer