NeuroOne Medical Technologies Faces Delisting Notice
Ticker: NMTC · Form: 8-K · Filed: Jul 12, 2024 · CIK: 1500198
| Field | Detail |
|---|---|
| Company | Neuroone Medical Technologies CORP (NMTC) |
| Form Type | 8-K |
| Filed Date | Jul 12, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory-filing
TL;DR
NeuroOne Medical is on notice for delisting – big trouble ahead?
AI Summary
NeuroOne Medical Technologies Corporation filed an 8-K on July 11, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, incorporated in Delaware, is based in Eden Prairie, MN, and operates in the surgical and medical instruments sector.
Why It Matters
This filing indicates potential issues with NeuroOne Medical Technologies' continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's ability to remain publicly traded.
Key Numbers
- 001-40439 — SEC File Number (Identifies the company's filing history with the SEC.)
- 27-0863354 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- NeuroOne Medical Technologies Corporation (company) — Registrant
- July 11, 2024 (date) — Date of Earliest Event Reported
- Delaware (jurisdiction) — State of incorporation
- Eden Prairie, MN (location) — Principal executive offices
- 3841 (sic_code) — Standard Industrial Classification
FAQ
What specific listing rule or standard has NeuroOne Medical Technologies failed to satisfy?
The filing does not specify the exact rule or standard that was not met, only that a notice has been received.
What is the name of the stock exchange where NeuroOne Medical Technologies is listed?
The filing does not explicitly state the name of the stock exchange.
What are the potential consequences of failing to satisfy a continued listing rule?
Potential consequences include delisting from the stock exchange, which would affect the trading of the company's securities.
Has NeuroOne Medical Technologies taken any steps to address the listing deficiency?
The filing does not provide information on any specific actions taken by the company to address the deficiency.
When was this notice of delisting or failure to satisfy a continued listing rule issued?
The notice was reported as of July 11, 2024, which is the date of the earliest event reported.
Filing Stats: 849 words · 3 min read · ~3 pages · Grade level 15.7 · Accepted 2024-07-12 16:49:49
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share NMTC The Nasdaq Stock Mar
- $1.00 — of the Company's common stock was below $1.00 per share for the prior 30 consecutive
Filing Documents
- ea020930601-8k_neuroonemed.htm (8-K) — 24KB
- 0001213900-24-061064.txt ( ) — 192KB
- nmtc-20240711.xsd (EX-101.SCH) — 3KB
- nmtc-20240711_lab.xml (EX-101.LAB) — 33KB
- nmtc-20240711_pre.xml (EX-101.PRE) — 22KB
- ea020930601-8k_neuroonemed_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 11, 2024, NeuroOne Medical Technologies Corporation (the " Company ") received a letter (the " Notice ") from the Listing Qualifications Department (the " Staff ") of the Nasdaq Stock Market (" Nasdaq ") notifying the Company that because the closing bid price of the Company's common stock was below $1.00 per share for the prior 30 consecutive business days, the Company is not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the " Minimum Bid Price Requirement "). In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from July 11, 2024, or until January 7, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before January 7, 2025, the closing bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days (which number days may be extended by Nasdaq), Nasdaq will provide written notification that the Company has achieved compliance with the Minimum Bid Price Requirement, and the matter would be resolved. The Notice also disclosed that in the event the Company does not regain compliance with the Rule by January 7, 2025, the Company may be eligible for additional time. To qualify for additional time, the Company would be required to meet the applicable market value of publicly held shares requirement for continued listing and all other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the bid price requirement, and would need to provide written notice of its intention to cure the deficiency during the second compliance period. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. However, i
SIGNATURES
SIGNATURES 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. NEUROONE MEDICAL TECHNOLOGIES CORPORATION Dated: July 12, 2024 By: /s/ David Rosa David Rosa Chief Executive Officer 2