Business Context and Reporting Period
Company: Safety Shot, Inc. (Note: Request metadata listed "BONK, INC.", but the filing text identifies the registrant as Safety Shot, Inc.)
Reporting Date: January 10, 2025
Event Date: January 2, 2025
Listing: The Nasdaq Capital Market (Common Stock: SHOT; Warrants: SHOTW)
Status: Emerging Growth Company
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This Form 8-K reports a regulatory compliance event rather than financial performance results.
Material Changes
Delisting Notice: On January 2, 2025, the Company received a notice from Nasdaq stating that the closing bid price of its common stock had been below $1.00 per share for 30 consecutive days. This constitutes non-compliance with Nasdaq Listing Rule 5550(a)(2) regarding the minimum bid price requirement.
Outlook, Management Commentary, and Risks
- Compliance Period: The Company has 180 calendar days (until July 1, 2025) to regain compliance.
- Compliance Criteria: To cure the deficiency, the closing bid price must be at least $1.00 per share for a minimum of 10 consecutive business days during the compliance period.
- Secondary Period: If compliance is not met initially, the Company may be eligible for an additional 180-day period, provided it meets other listing standards (e.g., market value of publicly held shares).
- Management Action: The Company intends to monitor the bid price and may consider a reverse stock split to regain compliance.
- Risks: There is no assurance that the Company will regain compliance. Failure to do so could result in delisting. The Company retains the right to appeal a delisting determination.
Investor Verification Checklist
- Verify the current closing bid price of SHOT to assess proximity to the $1.00 threshold.
- Review the Company's capital structure to evaluate the feasibility and impact of a potential reverse stock split.
- Monitor subsequent filings for any formal announcement of a reverse stock split or other corrective actions.
- Check the market value of publicly held shares to determine eligibility for a second compliance period if the first is missed.