Applied DNA Sciences Faces Nasdaq Delisting Warning

TL;DR

APDN might get kicked off Nasdaq - big trouble ahead.

AI Summary

Applied DNA Sciences, Inc. filed an 8-K on May 16, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company is facing potential delisting from the Nasdaq Capital Market due to not meeting certain continued listing requirements.

Why It Matters

This filing indicates Applied DNA Sciences may be delisted from the Nasdaq, which could significantly impact its stock liquidity and investor confidence.

Risk Assessment

Risk Level: high — The company is at high risk of delisting from a major stock exchange, which poses a significant threat to its operations and stock value.

Key Players & Entities

• Applied DNA Sciences, Inc. (company) — Registrant
• Nasdaq Capital Market (company) — Exchange facing delisting from
• May 16, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value APDN The Nasdaq Stock Mar
• $2,500,000 — holders' equity requirement of at least $2,500,000 for continued inclusion on The Nasdaq C
• $175,385 — mpany reported stockholders' equity of ($175,385), which was below the Stockholders' Equ

Filing Documents

• tm2414775d1_8k.htm (8-K) — 23KB
• 0001104659-24-062618.txt ( ) — 191KB
• apdn-20240516.xsd (EX-101.SCH) — 3KB
• apdn-20240516_lab.xml (EX-101.LAB) — 33KB
• apdn-20240516_pre.xml (EX-101.PRE) — 22KB
• tm2414775d1_8k_htm.xml (XML) — 3KB

01 NOTICE OF DELISTING

ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING On May 16, 2024, Applied DNA Sciences, Inc. (the "Company") received a deficiency letter (the "Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum stockholders' equity requirement of at least $2,500,000 for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"). In the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, the Company reported stockholders' equity of ($175,385), which was below the Stockholders' Equity Requirement. In accordance with Nasdaq rules, the Company has 45 calendar days, or until July 1, 2024, to submit a plan to the Staff to regain compliance (the "Compliance Plan") with the Stockholders' Equity Requirement. If the Compliance Plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the Letter for the Company to evidence compliance. The Company must submit a Compliance Plan to the Staff on or before July 1, 2024 and is considering available options to regain compliance with the Stockholders' Equity Requirement. However, there is no assurance that the Company will be successful in developing the Compliance Plan, that the Compliance Plan will be accepted by Nasdaq, or even if it is accepted, that the Company will ultimately be able to regain compliance with the Stockholders' Equity Requirement within the allotted extension period, which may be less than 180 calendar days. Receipt of the letter described above from Nasdaq has no immediate effect on the listing of the Company's common stock. 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. Date: May 16, 2024 APPLIED

View Full Filing

View this 8-K filing on SEC EDGAR