LM FUNDING AMERICA, INC. (NASDAQ:LMFA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Standard; Transfer of Listing.
On July 9, 2018, The Nasdaq Stock Market LLC (“Nasdaq”) notified the Company that the Staff has determined to grant the Company an extension until October 17, 2018 to comply with Listing Rule 5550(b), requiring a minimum of $2,500,000 of stockholders’ equity (the “Equity Standard”), or alternative criteria. As previously noted, the Company received notice on April 20, 2018 from Nasdaq that the Company was no longer in compliance with the Equity Standard, or the alternative criteria, for continued listing on The Nasdaq Capital Market. The Company submitted a compliance plan to the Staff, which was the basis for the Staff’s determination to grant the Company the extension until October 17, 2018; however, there can be no assurance that the Company will be able to regain compliance with the applicable Nasdaq listing requirements.
This Current Report on Form 8-K may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Such statements are based on management’s current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors. Please refer to the risks detailed from time to time in the reports we file with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2017, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.