Business Context and Reporting Period
This Form 8-K is filed by Second Sight Medical Products, Inc. (not Vivani Medical, Inc.) for the reporting period of July 21, 2020. The filing addresses a regulatory matter regarding the company's continued listing on the Nasdaq Stock Market.
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 corporate governance and listing compliance, not a financial statement.
Material Changes
The material change reported is the resolution of a listing deficiency. On June 2, 2020, Nasdaq notified the company of non-compliance with Rule 5605(d)(2) regarding the composition of its compensation committee. The company remediated this by appointing Aaron Mendelsohn, an independent director, to the committee. Consequently, Nasdaq determined on July 21, 2020, that the company now complies with the rule, and the matter is closed.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary on future performance. The primary risk addressed was the potential delisting due to governance non-compliance, which has been resolved. No other contingencies or unusual items are disclosed in this text.
Investor Verification Checklist
- Verify the company name is Second Sight Medical Products, Inc. (Ticker: EYES), not Vivani Medical, Inc.
- Confirm the appointment of Aaron Mendelsohn to the compensation committee.
- Check that the Nasdaq delisting notice regarding Rule 5605(d)(2) is officially closed.
- Note that this filing contains no financial performance data.