Business Context and Reporting Period
This Form 6-K filing by Cellect Biotechnology Ltd. (also referenced as Quoin Pharmaceuticals, Ltd. in metadata) covers the period ending June 5, 2017. The registrant is a foreign private issuer based in Kfar Saba, Israel, with American Depositary Receipts trading on NASDAQ.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a corporate governance event rather than financial performance.
Material Changes
- Voluntary Delisting: The Board of Directors resolved on June 4, 2017, to voluntarily delist the Company's ordinary shares from the Tel Aviv Stock Exchange (TASE).
- Court Decision: This action follows a decision by the Central District Court in Lod dated May 29, 2017.
- Trading Status: Ordinary shares will continue to trade on the TASE during an interim period. American Depositary Receipts will continue to trade on NASDAQ.
Outlook, Risks, and Management Commentary
Timeline: Under applicable Israeli law, the delisting from the TASE is expected to occur approximately three months after the announcement, on or about September 4, 2017.
Compliance: The Company will continue to file public reports and make disclosures in accordance with U.S. SEC rules and NASDAQ regulations following the delisting.
Unusual Items: The filing does not disclose unusual financial items, contingencies, or specific risk factors beyond the delisting process itself.
Investor Verification Checklist
- Verify the exact delisting date on the TASE once announced by the Company.
- Confirm continued trading status of American Depositary Receipts on NASDAQ.
- Review the May 29, 2017, Central District Court decision in Lod for context on the delisting resolution.
- Monitor future filings for the Company's financial performance, as this document contains no financial data.