Business Context and Reporting Period
This Form 8-K is filed by Neuralstem, Inc. (not Palisade Bio, Inc.) for the reporting period ending April 22, 2016, regarding an event that occurred on April 20, 2016. The Company is a Delaware corporation listed on the NASDAQ Capital Market under the symbol "CUR."
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory compliance regarding stock price.
Material Changes
On April 20, 2016, Neuralstem, Inc. received a written notice from NASDAQ stating the Company is not in compliance with Listing Rule 5550(a)(2). The minimum bid price of the Company's common stock has been below $1.00 per share for 30 consecutive business days. This notice has no immediate effect on the listing, and trading continues under the symbol "CUR."
Guidance, Outlook, and Risks
- Compliance Period: The Company has 180 calendar days (until October 17, 2016) to regain compliance. To do so, the closing bid price must meet or exceed $1.00 per share for at least ten consecutive business days.
- Contingencies: If compliance is not met by the deadline, the Company may be eligible for an additional 180-day grace period if it meets other initial listing standards and notifies NASDAQ of its intent to cure the deficiency, potentially via a reverse stock split.
- Risks: Failure to regain compliance within the allotted periods could result in delisting. The Company may appeal such a determination to a NASDAQ Listing Qualifications Panel.
- Management Commentary: The Company intends to monitor the stock price and consider available options but has made no determination regarding its specific response at this time. There is no assurance that compliance will be regained.
Investor Verification Checklist
- Verify the current trading price of Neuralstem, Inc. (CUR) to assess proximity to the $1.00 threshold.
- Monitor future filings for announcements regarding a potential reverse stock split.
- Review the attached press release (Exhibit 99.01) for additional context on the Company's financial condition.
- Track the Company's progress toward the October 17, 2016, compliance deadline.