Ominto, Inc. (OTCMKTS:OMNT) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 9.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On August 22, 2017, Ominto, Inc. (the “Company”) received a letter from the Nasdaq Stock Market, indicating that the Company is not in compliance with Nasdaq’s continued listing requirements under the timely filing criteria outlined in Listing Rule 5250(c)(1). Such non-compliance is a result of the Company having not timely filed with the U.S. Securities and Exchange Commission, its quarterly report on Form 10-Q for the quarter ended June 30, 2017 (the “Form 10-Q”). The letter states that the Company must submit a plan no later than October 23, 2017, setting forth the actions it will take to regain compliance with the Listing Rules for continued listing. If Nasdaq accepts such plan, we may be granted an exception of up to 180 calendar days from the date the Form 10-Q was due, or until February 12, 2018, to regain compliance. The Company intends to submit a plan to Nasdaq as soon as practicable, but in no event later than October 23, 2017. The letter from Nasdaq has no immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market.
Item 9.01. Regulation FD Disclosure.
On August 24, 2017, the Company issued a press release announcing that it has delayed the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. A copy of the press release is furnished as Exhibit 99.1 to this Report.
In accordance with General Instruction B.2 of Form 8-K, the press release is deemed to be “furnished” and shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
Cautionary Note Regarding Forward-Looking Statements. Except for historical information contained in this Form 8-K and the press release attached as an exhibit hereto, this Form 8-K and the press release contain forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in the press release regarding these forward-looking statements.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit Number |
Description |
| 99.1 | Press Release dated August 24, 2017. |
Ominto, Inc. ExhibitEX-99.1 2 f8k082217ex99-1_ominto.htm PRESS RELEASE Exhibit 99.1 Ominto,…To view the full exhibit click here
About Ominto, Inc. (OTCMKTS:OMNT)
Ominto, Inc. (Ominto), formerly DubLi, Inc., is engaged in online cash back shopping. The Company’s shopping portal serves customers in approximately 100 countries. Using its consumer-adaptive e-commerce sites, shoppers are linked and can browse third party Websites with different categories of products, which Websites feature, including international and local brands, travel, coupons, discounts and vouchers. The Company offers its product and service lines in the E-Commerce and Memberships segment, which includes business license fees, membership subscription fees and commission income, and advertising and marketing programs. The Company has adapted its Cash Back platform to serve over 10 international markets in approximately 10 languages and currencies. Its Websites feature various regional and international brands, including Amazon.com, Zalando, Groupon and Expedia. Its e-commerce platform allows consumers to shop at online stores and earn cash back with each purchase.