Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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This notification has no immediate effect on the listing of the Company's
securities on Nasdaq. However, if the Company fails to timely regain compliance
with the Nasdaq Listing Rule, the Company's common stock, warrants and 9.25%
Series A Cumulative Redeemable Perpetual Preferred Stock will be subject to
delisting from Nasdaq. Under Nasdaq rules, the Company has 60 calendar days to
submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If
Nasdaq accepts the Company's plan, then Nasdaq may grant the Company up to 180
days from the prescribed due date for filing the Form 10-K (as extended pursuant
to Rule 12b-25 under the Securities Exchange Act of 1934, as amended) to regain
compliance. If Nasdaq does not accept the Company's plan, then the Company will
have the opportunity to appeal that decision to a
The Company is working diligently to complete the Form 10-K and intends to file
the Form 10-K with the
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 99.1 Press release datedMay 19, 2023 announcing the receipt of the Nasdaq notification letter. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) 1
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