What happened

• The company reported that it received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC that the bid price of its common stock had closed below $1.00 per share for 30 consecutive business days and, as a result, the company "was not in compliance with Nasdaq Listing Rule 5550(a)(2)."
• Nasdaq afforded an initial 180-calendar-day grace period, or until Oct 12, 2026, to regain compliance; the company was unable to demonstrate compliance by that date and requested an additional 180-calendar-day period.
• On Oct 13, 2026, the Nasdaq staff granted the additional 180-calendar-day period, giving the company until Apr 12, 2027, to regain compliance by evidencing a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days (but generally not more than 20).
• The company said it may effect a reverse stock split if necessary and that the Staff notice had no immediate effect on the listing of its common stock.

Key details

• 30 consecutive business days with closing bid below $1.00 per share triggered the notice.
• Initial cure period: 180-calendar days, until Oct 12, 2026.
• Additional cure period granted: 180-calendar days, until Apr 12, 2027.
• Compliance standard during second period: closing bid of at least $1.00 per share for a minimum of 10 consecutive business days (generally not more than 20).

Why it may matter

• This Item 8.01 filing reports an other event: Nasdaq notified the company that it was not in compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) and granted cure periods to regain compliance.
• This filing does not show why the company acted.