Business Context and Reporting Period
Company: Aytu BioScience, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 9, 2018
Reporting Period: Event date April 9, 2018; Signed April 13, 2018.
Key Financial Metrics
This filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is a regulatory notice regarding stock listing compliance.
Material Changes
The Company received a letter from The Nasdaq Stock Market LLC indicating a failure to comply with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The common stock failed to maintain a minimum closing bid price of at least $1.00 per share.
Outlook, Risks, and Management Commentary
- Compliance Grace Period: Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has a 180-calendar-day grace period to regain compliance.
- Compliance Standard: To meet the continued listing standard, the common stock must maintain a minimum closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during the grace period.
- Management Action: The Company is monitoring the bid price and will consider available options to achieve compliance.
- Risk: Failure to regain compliance within the grace period could result in delisting from the Nasdaq Capital Market.
Investor Verification Checklist
- Verify the current trading price of Aytu BioScience, Inc. common stock to assess proximity to the $1.00 threshold.
- Monitor the stock's closing bid price over the next 10 consecutive business days to track progress toward compliance.
- Review subsequent filings for any announcements regarding reverse stock splits or other corporate actions intended to restore the bid price.
- Confirm the exact expiration date of the 180-day grace period (approximately October 6, 2018).