Current Report Filing (8-k)
September 19 2018 - 5:02PM
Edgar (US Regulatory)
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 14, 2018
NanoVibronix,
Inc.
(Exact name of registrant as specified in its charter)
Delaware
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001-36445
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01-0801232
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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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525 Executive
Blvd
Elmsford,
New York
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10523
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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: (914) 233-3004
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(Former name or former address, if changed since last
report)
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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:
[
] 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. [ ]
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Item 3.01
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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On September 14, 2018, NanoVibronix, Inc. (the
“Company”) received a letter from the Listing Qualifications Department of the NASDAQ Stock Market (“NASDAQ”)
indicating that the Company no longer complies with the minimum stockholders’ equity requirement under NASDAQ Listing Rule
5550(b)(1) for continued listing on The NASDAQ Capital Market because the Company’s stockholders’ equity of approximately
$2.2 million as reported in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2018, is below the
required minimum of $2.5 million, and as of September 14, 2018, the Company does not meet the alternative compliance standards
relating to the market value of listed securities of $35 million or net income from continuing operations of $500,000 in the most
recently completed fiscal year or in two of the last three most recently completed fiscal years.
In accordance with NASDAQ Listing Rules, the
Company has 45 calendar days, or until October 29, 2018, to submit a plan to regain compliance. If the Company’s plan is
accepted, NASDAQ may grant the Company an extension of up to 180 calendar days from the date of the notification letter to evidence
compliance.
The Company intends to promptly evaluate various
courses of action to regain compliance and to timely submit a plan to NASDAQ to regain compliance with the NASDAQ minimum stockholders’
equity standard. However, there can be no assurance that the Company's plan will be accepted or that if it is, the Company will
be able to regain compliance. If the Company’s plan to regain compliance with the minimum stockholders’ equity standard
is not accepted or if it is accepted but the Company does not regain compliance by the end of the extension granted by NASDAQ,
or if the Company fails to satisfy another NASDAQ requirement for continued listing, NASDAQ staff could provide notice that the
Company’s common stock will become subject to delisting. In such event, NASDAQ rules permit the Company to appeal the decision
to reject its proposed compliance plan or any delisting determination to a NASDAQ Hearings Panel. Accordingly, there can be no
guarantee that the Company will be able to maintain its NASDAQ listing.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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NanoVibronix, Inc.
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Date: September 19, 2018
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By:
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/s/ Brian Murphy
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Name: Brian Murphy
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Title:
Chief Executive Officer
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