Ameri Holdings, Inc. (OTCMKTS:AMRH) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01
Ameri Holdings, Inc. (OTCMKTS:AMRH) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On June 11, 2019, Ameri Holdings, Inc. (the “Company”) received a written notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has been granted an additional 180 calendar days, or until December 9, 2019, to regain compliance with the minimum $1.00 bid price per share requirement of the Listing Rules of Nasdaq.
As previously disclosed on the Current Report on Form 8-K filed on December 10, 2018 with the Securities and Exchange Commission, the Company received a written notification from the Listing Qualifications Department of Nasdaq notifying the Company that it had failed to comply with Nasdaq’s Listing Rule 5550(a)(2) (the “Rule”) because the bid price for the Company’s common stock over a period of 30 consecutive business days prior to such date had closed below the minimum $1.00 per share requirement for continued listing. The notification had no immediate effect on the listing or trading of the common stock on the Nasdaq Capital Market. The Company initially had a period of 180 calendar days, or until June 10, 2019, to regain compliance with the Rule.
If at any time before December 9, 2019, the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the Rule. If compliance with the Rule cannot be demonstrated by December 9, 2019, Nasdaq will provide written notification that the Company’s common stock will be delisted. At that time, the Company may appeal Nasdaq’s determination to a Hearings Panel.
The Company will continue to monitor the bid price for its common stock and consider various options available to it if its common stock does not trade at a level that is likely to regain compliance. These options include effecting a reverse stock split. There can be no assurance that the Company will regain compliance with the Rule or maintain compliance with any of the other Nasdaq continued listing requirements.
A copy of a press release announcing the above is filed as Exhibit 99.1 to this Form 8-K.
AMERI Holdings, Inc. Exhibit
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 AMERI100 GRANTED 180-DAY EXTENSION BY NASDAQ TO REGAIN COMPLIANCE WITH BID PRICE RULE ATLANTA,…
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EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 AMERI100 GRANTED 180-DAY EXTENSION BY NASDAQ TO REGAIN COMPLIANCE WITH BID PRICE RULE ATLANTA,…
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here