Business Context and Reporting Period
This Form 6-K filing by Farmmi, Inc. covers the month of January 2021. The report addresses the company's status regarding its listing on The Nasdaq Capital Market, specifically concerning compliance with the Minimum Bid Price Rule (Listing Rule 5550(a)(2)).
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 focused on regulatory compliance rather than financial performance.
Material Changes
The primary material change reported is the resolution of a delisting risk. On January 11, 2021, Nasdaq notified Farmmi, Inc. that it had regained compliance with the Minimum Bid Price Rule, closing the matter that had been ongoing since February 2020.
Outlook, Risks, and Management Commentary
Compliance History: The company initially received a notice of non-compliance on February 3, 2020, due to a closing bid price below $1.00 for 30 consecutive business days. After missing the initial August 3, 2020, deadline and a subsequent October 15, 2020, deadline, Nasdaq granted an extension until April 13, 2021.
Current Status: The company successfully met the requirement prior to the final deadline. A press release confirming this compliance is filed as Exhibit 99.1.
Investor Verification Checklist
- Verify the current trading price of Farmmi, Inc. shares to ensure continued compliance with the $1.00 minimum bid price requirement.
- Review the press release filed as Exhibit 99.1 for specific details on the share price performance leading to compliance.
- Monitor future filings for any new notices from Nasdaq regarding bid price or market value of publicly held shares.