Form 8-K - Current report
November 22 2023 - 5:25PM
Edgar (US Regulatory)
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2023-11-22
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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): November 22, 2023
OMNIQ
CORP.
(Exact
name of registrant as specified in charter)
Delaware |
|
001-40768 |
|
20-3454263 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
1865
West 2100 South, Salt Lake City, UT 84119
(Address
of Principal Executive Offices) (Zip Code)
(714)
899-4800
(Registrant’s
Telephone Number, Including Area Code)
Not
Applicable
(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:
☐ |
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)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Ticker
symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.001 |
|
OMQS |
|
The
Nasdaq Stock Market LLC |
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 mart 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
3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
November 21, 2023, OmniQ Corp. (the “Company”)
received a notice (the “Notice”) from the staff of the Listing Qualifications Department (the “Staff”) of The
Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(a)(2)
(the “Rule”) because it failed to maintain a minimum bid price of $1.00 over the previous 32 consecutive business days dated
October 6, 2023 to November 20, 2023. The Rules provide the company with a compliance period of 180 calendar days in which to regain
compliance. If at any time during this 180-day period the closing bid price of the Company’s security is at least $1 for a minimum
of ten consecutive business days, the Staff will provide written confirmation of compliance and this matter will be closed. If the Company
chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to the expiration of 180
calendar day compliance period, which is May 10, 2024, in order to regain compliance.
In
the event the Company does not regain compliance, the Company may be eligible for additional time. To qualify, the Company will be required
to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for Nasdaq,
apart from the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second
compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, the Staff will inform the
Company that it has been granted an additional 180 calendar days. However, if it appears to Staff that the Company will not be able to
cure the deficiency, or if the Company is otherwise not eligible, the Staff will provide notice that its securities will be subject to
delisting.
Item
9.01 Financial statements and Exhibits
(d)
Exhibits.
Exhibit
Number |
|
Description |
104 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
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.
Date:
November 22, 2023
|
OMNIQ Corp. |
|
|
|
|
By: |
/s/
Shai S. Lustgarten |
|
|
Shai
S. Lustgarten |
|
|
President, CEO and Interim CFO |
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