UNS 0.00% 0.5¢ unilife corporation

CGT-IMNP is below the NAS threshold based on market cap....

  1. 122 Posts.
    CGT-IMNP is below the NAS threshold based on market cap. However, that is not why they received the delisting notice. They received the delisting notice because they issued more shares than the NAS allows without shareholder approval:

    "On November 2, 2016, Immune Pharmaceuticals Inc. (the “Company”) received a notification from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) indicating that the Company had failed to comply with NASDAQ’s shareholder approval requirement set forth in Listing Rule 5635(d) (the “Rule”). The notification stated that determination was based on the Staff’s determination to aggregate the discounted share issuances in transactions that had been completed in April, June and July of 2016 for purposes of determining whether the threshold for shareholder approval had been triggered." (IMNP-10Q)

    There plan to correct this violation was relatively easy, file a prospectus and obtain shareholder approval for the issuances. UNIS is not that easy.

    I do agree with you that the prime concern is money going forward. Sadly, the resolution of that problem is likely to be very large dilution to current shareholders, if there is a possible resolution at all. Which actually brings us back to the potential loss of the NASDAQ listing. Losing the listing will cause far greater dilution in a capital raise than maintaining the listing, IMO, so we have come full circle. I would be very concerned first about the listing and second about the capital.
 
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