Sonoma Pharmaceuticals Faces Delisting Notice

TL;DR

Sonoma Pharma got a delisting warning - stock might be in trouble.

AI Summary

Sonoma Pharmaceuticals, Inc. filed an 8-K on March 22, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company was formerly known as Oculus Innovative Sciences, Inc. and was incorporated in Delaware.

Why It Matters

This filing indicates potential issues with Sonoma Pharmaceuticals' 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 stock trading and overall financial stability.

Key Players & Entities

• Sonoma Pharmaceuticals, Inc. (company) — Registrant
• March 21, 2024 (date) — Date of earliest event reported
• March 22, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• Oculus Innovative Sciences, Inc. (company) — Former company name
• 5445 Conestoga Court, Suite 150, Boulder, CO 80301 (address) — Principal executive offices
• (800) 759-9305 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $1.00 — common stock listed on Nasdaq was below $1.00 per share for 30 consecutive business d

Filing Documents

• sonoma_8k.htm (8-K) — 30KB
• 0001683168-24-001635.txt ( ) — 200KB
• snoa-20240321.xsd (EX-101.SCH) — 3KB
• snoa-20240321_lab.xml (EX-101.LAB) — 33KB
• snoa-20240321_pre.xml (EX-101.PRE) — 22KB
• sonoma_8k_htm.xml (XML) — 4KB

01

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 21, 2024, Sonoma Pharmaceuticals, Inc. (the "Company") received a notice (the "Extension Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") informing the Company that Nasdaq granted the Company an additional 180 calendar days, or until September 16, 2024 to regain compliance with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2) (the "Rule"). The Extension Notice has no immediate effect on the listing of the Company's common stock. As previously disclosed in the Current Report on Form 8-K filed on September 28, 2023 with the Securities and Exchange Commission, the Company received a notice from Nasdaq on September 22, 2023 informing the Company that because the closing bid price for the Company's common stock listed on Nasdaq was below $1.00 per share for 30 consecutive business days, the Company did not comply with the minimum closing bid price requirement for continued listing on The Nasdaq Capital Market under the Rule. That notification had no immediate effect on the listing of the Company's common stock. The Company initially had a period of 180 calendar days, or until March 20, 2024, to regain compliance with the Rule. The Company did not regain compliance with the Rule by such date and proactively notified Nasdaq of its intent to cure the deficiency and requested an additional 180 calendar day period to regain compliance with the Rule. If at any time before September 16, 2024 the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation that the Company has achieved compliance with the Rule, unless Nasdaq exercises its discretion to extend this 10-day period pursuant to Nasdaq Listing Rule 5810(c)(3). If c

SIGNATURES

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. SONOMA PHARMACEUTICALS, INC. Date: March 22, 2024 By: /s/ Amy Trombly Name: Title: Amy Trombly Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR