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TOPIC: New 8K Filing concerning Nasdaq compliance etc

New 8K Filing concerning Nasdaq compliance etc 21 Aug 2019 07:15 #13175

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On August 16, 2019, Plus Therapeutics, Inc. (the “Company”) received written notice from the Listing Qualifications staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company no longer meets the requirements for continued listing under Nasdaq Listing Rule 5550(a)(4) due to the Company’s failure to meet the minimum 500,000 publicly held shares requirement for continued listing. With respect to the August 16, 2019 notice, the Company has until September 26, 2019 to provide Nasdaq with a specific plan to achieve and sustain compliance with all listing requirements, including the time frame for completion of such plan. The Company expects to regain compliance with the 500,000 publicly held shares requirement in the near term as a result of issuances of common stock pursuant to conversions of the Company’s Series C Preferred Stock, exercises of the Company’s outstanding warrants and sales under the Company’s Purchase Agreement with Lincoln Park Capital Fund, LLC.
 
In addition, on August 19, 2019, the Company received written notice from Nasdaq indicating that, based on the Company’s stockholders’ deficit of $6.3 million as of June 30, 2019, as reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019, it is no longer in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market under Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain stockholders’ equity of at least $2.5 million. In addition, as of August 20, 2019, the Company does not meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations. With respect to the August 19, 2019 notice, the Company has until October 3, 2019 to provide Nasdaq with a specific plan to achieve and sustain compliance with all listing requirements, including the time frame for completion of such plan.  
 
The notices described above have no immediate effect on the listing of the Company’s securities on the Nasdaq Capital Market. With respect to the August 19, 2019 notice, if the Company’s plan to regain compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the letter for the Company to evidence compliance.
 
The Company is presently evaluating various courses of action to regain compliance and intends to timely submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rules. 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 and maintain its listing on the Nasdaq Capital Market. If the Company’s plan to regain compliance is not accepted or if Nasdaq does not grant an extension and the Company does not regain compliance within the requisite time period, or if the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that the Company’s securities will become subject to delisting.

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New 8K Filing concerning Nasdaq compliance etc 21 Aug 2019 08:25 #13176

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The 16th eh ?
The date of all that volume and tremendous price movement.

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New 8K Filing concerning Nasdaq compliance etc 21 Aug 2019 09:25 #13177

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Looks like another wild day today.

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New 8K Filing concerning Nasdaq compliance etc 21 Aug 2019 11:47 #13178

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b767cpt wrote: Looks like another wild day today.

/

Interesting that there was a Seeking Alpha article that came out this morning - here is part of the last paragraph: "I strongly recommend against an investment in PSTV" - the author Edward Vranic then goes on to say (paraphrasing) that if someone is inclined to trade it, then they should sell before the close because a financing can be announced at any time - then he says, "With a float of less than a million (for now) shares, it is conceivable that PSTV could go on a crazy run to $50 or higher. But there will be a time when the stock will crash". My thought on the article is ????????????????????

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New 8K Filing concerning Nasdaq compliance etc 22 Aug 2019 08:50 #13179

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With regard to my response to B-7 in the prior post, I am now thinking that if an analyst that is bearish on PSTV thinks that the stock could run-up to $50, then maybe buying the dirt-cheap PSTVZ might be worth a shot - last sale at .01 at 9:40 am - any thoughts?

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New 8K Filing concerning Nasdaq compliance etc 23 Aug 2019 12:25 #13182

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At .006 today PSTVZ was worth a shot imo!

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New 8K Filing concerning Nasdaq compliance etc 26 Aug 2019 13:15 #13183

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Following up on my last post in this segment, it appears that today's volume for PSTVZ shows that other folks may have had the same thought!:yep:

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New 8K Filing concerning Nasdaq compliance etc 27 Aug 2019 13:30 #13186

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With PSTV back near to post split high, maybe the PSTVZ concept will turn out to be fruitful???? :yep: :grin:

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New 8K Filing concerning Nasdaq compliance etc 27 Aug 2019 13:50 #13187

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rodney.strongg wrote: With regard to my response to B-7 in the prior post, I am now thinking that if an analyst that is bearish on PSTV thinks that the stock could run-up to $50, then maybe buying the dirt-cheap PSTVZ might be worth a shot - last sale at .01 at 9:40 am - any thoughts?


Crazy price action again today Rod, I can’t figure out what’s driving this. Must be something in the works for a partnership or sell.

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New 8K Filing concerning Nasdaq compliance etc 27 Aug 2019 14:16 #13188

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B-7, with the float on PSTV so low, the potential for game-playing is very real and who knows if the $50 that the "bearish" analyst cited as a possibility could come to fruition????

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