Business Context and Reporting Period
This Form 6-K filing by Dogness (International) Corp covers the month of March 2020, specifically dated March 11, 2020. The registrant is a foreign private issuer headquartered in Dongguan, People's Republic of China, and files annual reports under Form 20-F.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding a regulatory notification and does not contain financial statements or performance metrics.
Material Changes
The material change disclosed is a regulatory notification received on March 9, 2020, from the Listings Qualifications Department of The Nasdaq Stock Market LLC. The notification states that the number of Total Holders of the Registrant's Class A common shares fell below 400, failing to meet the minimum requirement under Nasdaq Listing Rule 5450(a)(2).
Outlook, Risks, and Management Commentary
- Immediate Effect: The Nasdaq notification has no immediate effect on the trading of the Registrant's Class A common shares.
- Trading Status: Shares will continue to trade uninterrupted under the symbol "DOGZ."
- Management Action: The company issued a press release on March 11, 2020, titled "Dogness Receives NASDAQ Notification Regarding Minimum Total Holders," which is filed as Exhibit 99.1.
Investor Verification Checklist
- Verify the current number of Total Holders for Class A common shares to assess compliance with Nasdaq Listing Rule 5450(a)(2).
- Monitor subsequent communications from Nasdaq regarding the timeline for regaining compliance or potential delisting proceedings.
- Review the full text of the press release filed as Exhibit 99.1 for any additional details on the company's remediation plan.