Current Report Filing (8-k)
May 31 2018 - 8:25AM
Edgar (US Regulatory)
U.S.
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): May 31, 2018 (May 30, 2018)
AKERS
BIOSCIENCES, INC.
(Exact
name of registrant as specified in its charter)
New
Jersey
|
|
001-36268
|
|
22-2983783
|
(State
or other jurisdiction of
|
|
(Commission
|
|
(I.R.S.
Employer
|
incorporation
or organization)
|
|
File
Number)
|
|
Identification
Number)
|
201
Grove Road
Thorofare,
New Jersey USA 08086
(Address
of principal executive offices, including zip code)
(856)
848-8698
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under
any of the following provisions:
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
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 [X]
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. [ ]
Item
8.01 Other Events.
On
May 30, 2018, Akers Biosciences, Inc. (the “Company”) issued a press release announcing that the Listing Qualifications
Department of the Nasdaq Stock Market (“Nasdaq”) granted the Company a 180-day extension to meet the requirement of
a minimum $1.00 per share closing bid price of its common stock for 10 consecutive business days (the “Bid Price Requirement”)
for continued inclusion on the Nasdaq Capital Market.
As
previously disclosed, the Company received notice from Nasdaq on November 28, 2017, that it was not in compliance with the Bid
Price Requirements for its common stock. Per Nasdaq rules, the Company was afforded an initial 180 calendar days to regain compliance
with the Bid Price Requirement. The Company provided a written notice of its intention to cure the deficiency during the second
180 calendar day compliance period by effecting a reverse stock split, if necessary.
Following
a review, Nasdaq determined that the Company was eligible for an additional 180 calendar days to regain compliance with the Bid
Price Requirement. If at any time during the second 180 calendar day period the closing bid price of the Company’s common
stock, for the required minimum 10 consecutive business day period, meets the Bid Price Requirement and provided that the Company
meets the continued listing requirement for the market value of publicly held shares and all other initial listing standards,
Nasdaq will provide the Company with written confirmation that it is compliant with the Bid Price Requirement and this matter
will be closed.
Item 9.01.
|
Financial
Statements and Exhibits.
|
Cautionary
Note Regarding Forward-Looking Statements
Statements
contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect
the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks
and uncertainties. The forward-looking statements include statements or expectations regarding the Company’s compliance
with the Bid Price Requirement, the Company’s continued listing on Nasdaq, other risks detailed in the Company’s periodic
reports filed with the Securities and Exchange Commission and other future events. Such statements may include, without limitation,
statements with respect to the Company’s plans, compliance with the requirements of various regulatory agencies, objectives,
projections, expectations and intentions and other statements identified by words such as “projects,” “may,”
“will,” “could,” “would,” “should,” “believes,” “expects,”
“anticipates,” “estimates,” “intends,” “plans,” “potential” or similar
expressions, as they relate to the Company, its subsidiaries, or its management. These statements are based upon the current beliefs
and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed
in the Company’s filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities
to may differ materially from those set forth in, or implied by, the forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s
control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
SIGNATURE
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.
|
AKERS
BIOSCIENCES, INC.
|
|
|
|
Date:
May 31, 2018
|
By:
|
/s/
John J. Gormally
|
|
|
John
J. Gormally
|
|
|
Chief
Executive Officer
|
Akers Biosciences (NASDAQ:AKER)
Historical Stock Chart
From Jun 2024 to Jul 2024
Akers Biosciences (NASDAQ:AKER)
Historical Stock Chart
From Jul 2023 to Jul 2024