Business Context and Reporting Period
This Form 6-K filing by Check-Cap Ltd. (referred to as Mbody AI Ltd. in metadata) covers the period ending April 19, 2018. The report addresses the company's compliance status with The Nasdaq Stock Market listing requirements.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance and stock listing status rather than financial performance.
Material Changes
- Reverse Stock Split: On April 4, 2018, the Company effected a 1-for-12 reverse stock split of its outstanding ordinary shares to address non-compliance with Nasdaq minimum bid price rules.
- Regulatory Compliance: The Company previously failed to maintain a minimum bid price of $1.00 over 30 consecutive business days. Following the split, the closing bid price remained at or above $1.00 for 10 consecutive business days (April 4 to April 17, 2018).
- Listing Status: On April 19, 2018, Nasdaq confirmed the Company regained compliance with Listing Rule 5550(a)(2), and the matter is now closed.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of financial risks. The primary risk addressed was the potential delisting due to low share price, which has been resolved as of the filing date.
Investor Verification Checklist
- Verify the post-split share count and trading volume on Nasdaq following the April 4, 2018 effective date.
- Confirm the current stock price remains above the $1.00 minimum bid requirement to ensure continued compliance.
- Review the attached press release (Exhibit 99.1) for any additional details on the reverse split mechanics.
- Check subsequent filings for financial data, as this 6-K contains no financial statements.