Business Context and Reporting Period
This Form 6-K filing by Check-Cap Ltd. (referred to in metadata as Mbody AI Ltd.) is dated December 15, 2022. The report addresses the Company's status regarding Nasdaq Listing Rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share for ordinary shares.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance regarding stock listing standards rather than financial performance.
Material Changes
The primary material change reported is the resolution of a prior bid price deficiency. On June 23, 2022, the Company was granted an 180-day extension to regain compliance. The Company confirmed that for the 10 consecutive business days from November 25, 2022, to December 8, 2022, the closing bid price of its ordinary shares was at or above $1.00 per share.
Outlook and Management Commentary
Management, represented by CEO Alex Ovadia, confirms that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2). Consequently, Nasdaq has considered the prior bid price deficiency matter closed. No forward-looking guidance, risk factors, or unusual items were disclosed in this specific filing.
Investor Verification Points
- Verify the current trading price of Check-Cap Ltd. ordinary shares to ensure continued compliance with the $1.00 minimum bid price requirement.
- Confirm the Company's legal name and ticker symbol, as the metadata references "Mbody AI Ltd." while the filing text identifies the registrant as "Check-Cap Ltd."
- Review subsequent filings to ensure no new listing deficiencies have arisen since the December 2022 compliance confirmation.