Business Context and Reporting Period
This Form 8-K was filed by Aikido Pharma Inc. (not Dominari Holdings Inc.) on September 24, 2020. The registrant is a Delaware corporation with its principal executive offices in New York, NY. The report addresses a regulatory notice received from The Nasdaq Stock Market regarding the continued listing of its common stock (Trading Symbol: AIKI) on The Nasdaq Capital Market.
Key Financial Metrics
This filing is a current report regarding a listing deficiency 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
The material event reported is the receipt of a staff deficiency notice from Nasdaq. The Company's common stock failed to comply with the $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). This determination was based on the closing bid price during the period from August 12, 2020, to September 23, 2020.
Outlook, Risks, and Contingencies
- Compliance Period: Under Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been granted a compliance period of 180 calendar days, ending on March 23, 2021.
- Regaining Compliance: To avoid delisting, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days prior to the March 23, 2021 deadline.
- Risk: Failure to regain compliance within the specified timeframe may result in the delisting of the Company's common stock from The Nasdaq Capital Market.
Investor Verification Checklist
- Verify the current trading price of AIKI stock to assess proximity to the $1.00 threshold.
- Monitor subsequent filings for any announcements regarding stock splits or other corporate actions intended to restore the bid price.
- Confirm the Company's status regarding the March 23, 2021, compliance deadline.
- Note the discrepancy between the requested company name (Dominari Holdings Inc.) and the actual registrant (Aikido Pharma Inc.).