SEC Filing Summary: Form 8-K
Business Context and Reporting Period
This Current Report (Form 8-K) is filed by AspenBio Pharma, Inc., a Colorado corporation, with a report date of February 13, 2012. The filing addresses a regulatory notice regarding the company's listing status on the NASDAQ Capital Market. Note: The request metadata referenced "Riot Platforms, Inc.", but the source text explicitly identifies the registrant as AspenBio Pharma, Inc.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the market price of the common stock, which has closed below the $1.00 per share minimum requirement for 30 consecutive business days.
Material Changes and Listing Status
On February 13, 2012, the Company received a letter from NASDAQ stating that its common stock failed to meet the minimum bid price requirement under Marketplace Rule 5550(a)(2). This notification does not immediately affect the listing status but initiates a compliance period.
Outlook, Risks, and Contingencies
- Compliance Period: The Company has been granted 180 calendar days, until August 13, 2012, to regain compliance.
- Compliance Path: To achieve compliance, the bid price must close at $1.00 per share or more for a minimum of 10 consecutive business days before the deadline.
- Delisting Risk: If compliance is not met by August 13, 2012, NASDAQ will notify the Company that the stock will be delisted from the NASDAQ Capital Market.
- Appeal Rights: In the event of a delisting determination, the Company may appeal to a NASDAQ Listings Qualifications Panel.
Key Facts for Investor Verification
- Verify the current trading price of AspenBio Pharma, Inc. common stock to assess proximity to the $1.00 threshold.
- Monitor the company's stock performance over the next 10 consecutive business days to determine if compliance is achieved.
- Review subsequent filings for any announcements regarding a reverse stock split or other corporate actions intended to raise the share price.
- Confirm the exact deadline for compliance is August 13, 2012.