SEC Filing Summary: Form 8-K
Business Context and Reporting Period
Company: Muscle Maker, Inc. (Note: Metadata referenced "Sadot Group Inc.", but the filing text identifies the issuer as Muscle Maker, Inc.)
Reporting Date: February 1, 2022
Exchange: The Nasdaq Capital Market (Symbol: GRIL)
Event: Notice of failure to satisfy a continued listing rule regarding minimum bid price.
Key Financial Metrics
This filing is a Current Report (Form 8-K) regarding regulatory compliance and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Stock Price Deficiency: The Company received notice from Nasdaq that its common stock closing bid price was below $1.00 per share for 30 consecutive business days.
- Compliance Status: The Company is currently not in compliance with Nasdaq Listing Rule 5550(a)(2).
- Immediate Effect: The notice has no immediate effect on the listing or trading of the Company's common stock.
Outlook, Risks, and Management Commentary
- Compliance Period: The Company has 180 calendar days (until August 1, 2022) to regain compliance.
- Remediation Requirement: To regain compliance, the closing bid price must be at least $1.00 per share for a minimum of 10 consecutive business days during the compliance period.
- Secondary Compliance Period: If the initial period is unsuccessful, the Company may be eligible for an additional 180-day period, provided it meets other listing standards (e.g., market value of publicly held shares).
- Risks: There is no assurance the Company will regain compliance or avoid delisting. If delisting occurs, the Company may appeal, but approval is not guaranteed.
- Management Action: Management intends to actively monitor the bid price and consider available options to regain compliance.
Investor Verification Checklist
- Verify the current trading price of GRIL to assess proximity to the $1.00 threshold.
- Monitor future 8-K filings for updates on compliance status or potential reverse stock splits.
- Review the Company's most recent 10-K or 10-Q for financial health indicators not present in this filing.
- Confirm if the Company has filed a notice of intent to cure the deficiency if the initial 180-day period expires without compliance.