Business Context and Reporting Period
This Form 8-K was filed by Sintx Technologies, Inc. on July 11, 2022, reporting an event that occurred on July 6, 2022. The Company is incorporated in Delaware and its common stock trades on the NASDAQ Capital Market under the symbol "SINT".
Key Financial Metrics
This filing is a Current Report regarding corporate governance and listing status. It does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data.
Material Changes
The primary material event reported is the Company's failure to regain compliance with NASDAQ's $1.00 minimum bid price requirement during the initial 180-day grace period. Consequently, the Company received notification of an additional 180-day grace period to regain compliance, extending until January 2, 2023.
Outlook, Risks, and Management Commentary
Management has notified NASDAQ of its intention to cure the deficiency during the second compliance period. The Company indicated it may effect a reverse stock split if necessary to meet the listing requirement. The Company remains eligible for this extension because it meets the market value of publicly held shares requirement and all other applicable initial listing requirements for the Nasdaq Capital Market.
Investor Verification Checklist
- Verify the current trading price of SINT stock relative to the $1.00 minimum bid requirement.
- Monitor for future announcements regarding the execution of a reverse stock split before the January 2, 2023 deadline.
- Confirm the Company's continued compliance with the market value of publicly held shares requirement.
- Review subsequent filings for updates on the status of the delisting risk.