Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On January 15, 2020, Aqua Metals, Inc. (the "Company") received a letter (the
"Letter") from the Nasdaq Stock Market, LLC (the "Nasdaq"). The Letter notified
the Company that it had fallen below compliance with respect to the continued
listing standard set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules
because the closing bid price of the Company's common stock over the previous 30
consecutive trading-day period had fallen below $1.00 per share.
Pursuant to the Letter and Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the
Company has 180 days from the date of the Letter, or until July 13, 2020, to
regain compliance with the minimum bid price requirement in Rule 5550(a)(2) by
achieving a closing bid price for the Company's common stock of at least $1.00
per share over a minimum of 10 consecutive business days. If the Company does
not regain compliance with Rule 5550(a)(2) during the initial 180-day period,
the Company may be eligible for additional time to regain compliance, subject to
the Company's compliance with the Nasdaq's continued listing requirement for
market value of publicly-held shares and all other initial listing standards for
The Nasdaq Capital Market, with the exception of the bid price requirement, and
the Company's provision of certain undertakings to the Nasdaq. However, there
can be no assurance that the Company will be afforded additional time to regain
compliance with the minimum bid price requirement following the initial 180-day
period. If the Company is unable to regain compliance with Nasdaq Listing Rule
5550(a)(2) in a timely manner, the Nasdaq will commence suspension and delisting
procedures.
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