7 (OTCMKTS:SPEC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 17, 2019, Bridgeline Digital, Inc. (the “Company”) received a notification letter from the Nasdaq Listings Qualification Department (“NASDAQ”) indicating that the Staff at NASDAQ has determined that the Company has regained compliance with the $1.00 minimum bid price requirement for the Company’s common stock to Listing Rule 5550(a)(2).
On May 20, 2019, the Company received a notification letter (the “Letter”) from NASDAQ indicating that based on information included in the Condensed Consolidated Balance Sheets set forth in the Company’s Form 10-Q for the period ending March 31, 2019, filed with the Securities and Exchange Commission on May 15, 2019, the Company is not in compliance with Listing Rule 5550(b)(1) (the “Rule”), which requires companies to maintain a minimum of $2.5 million in stockholders’ equity for continued listing, or to meet certain alternative requirements. Under the Rule, the Company has forty-five days to submit a plan (the “Plan”) to regain compliance. If the plan is accepted by NASDAQ, NASDAQ may grant an extension of up to one hundred and eighty days from the date of the Letter to regain compliance. The Company expects to submit such Plan to NASDAQ within the specified period and will use its best efforts to regain compliance of the Rule.
Item 8.01 Other Events.
See Item 3.01, above.
