Current Report Filing (8-k)
October 02 2020 - 4:28PM
Edgar (US Regulatory)
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2020-09-29
2020-09-29
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of report (Date of earliest event reported): September 29, 2020
ADAMIS PHARMACEUTICALS CORPORATION
(Exact
Name of Registrant as Specified in Charter)
Delaware
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0-26372
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82-0429727
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(State
or other jurisdiction
of
incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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11682 El Camino Real, Suite 300
San Diego, CA
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92130
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (858) 997-2400
(Former
name or Former Address, if Changed Since Last Report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
☐
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Exchange Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on
which registered
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Common Stock
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ADMP
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Nasdaq Capital Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Section
3 - Securities and Trading Markets
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
September 29, 2020, Adamis Pharmaceuticals Corporation (the “Company”) received a notice from the Listing Qualifications
Department of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that for 30 consecutive business days, the
closing bid price of the Company’s common stock was below $1.00 per share, which is the minimum required closing bid price
for continued listing on the Nasdaq Capital Market pursuant to Marketplace Rule 5550(a)(2). This notice has no immediate effect
on the Company’s Nasdaq listing or the trading of its common stock.
In
accordance with Nasdaq Marketplace Rule and 5810(c)(3)(A), the Company has a period of 180 calendar days from the date of notification,
or until March 29, 2021, to regain compliance. If at any time before March 29, 2021, 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 minimum bid price requirement, and the matter would be resolved. The notice
letter also disclosed that if the Company does not regain compliance within the initial compliance period, it may be eligible
for an additional 180-day compliance period. To qualify for additional time, the Company would be required to meet the 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 would need to provide written notice of a plan to cure the deficiency during
the second compliance period. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted
an additional 180 calendar days to regain compliance. However, if it appears to the staff of Nasdaq that the Company will not
be able to cure the deficiency, or if the Company is otherwise not eligible, the staff would notify the Company that it will not
be granted additional 180 days for compliance and will be subject to delisting at that time. In the event of such notification,
the Company may appeal the staff’s determination to delist its securities. There are no assurances that the Company will
be able to regain compliance with the minimum bid price requirements or will otherwise be in compliance with other Nasdaq listing
rules.
The
Company intends to monitor the closing bid price for its common stock and will consider available strategies in an effort to satisfy
the minimum bid price requirement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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ADAMIS PHARMACEUTICALS CORPORATION
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Dated: October 2, 2020
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By:
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/s/
Robert O. Hopkins
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Name:
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Robert O. Hopkins
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Title:
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Chief Financial
Officer
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Adamis Pharmaceuticals (NASDAQ:ADMP)
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