Business Context and Reporting Period
This Form 6-K filing by Farmmi, Inc. covers the month of June 2022, specifically addressing a regulatory matter regarding the company's listing status on The Nasdaq Stock Market. The report details the resolution of a delisting notice received in May 2022.
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 focused on corporate governance and listing compliance rather than financial performance.
Material Changes
The primary material change reported is the restoration of the company's compliance with Nasdaq listing standards. Previously, the company faced delisting due to its securities trading below $0.10 for ten consecutive trading days and failing to meet the $1.00 minimum bid price requirement. On June 22, 2022, Nasdaq notified the company that the bid price deficiency had been cured.
Outlook, Risks, and Management Commentary
Management confirmed that the scheduled hearing before the Nasdaq Hearings Panel has been canceled. Consequently, the company's common shares will continue to be listed and traded on The Nasdaq Stock Market. The filing incorporates a press release dated June 23, 2022, as Exhibit 99.1.
Key Facts for Investor Verification
- The company successfully cured its bid price deficiency with Nasdaq as of June 22, 2022.
- The threat of delisting from The Nasdaq Stock Market has been removed for the time being.
- No financial performance data is included in this specific filing.
- The company utilized the full 180-day compliance period (plus an additional 180-day period) to resolve the issue.