8-K
filed May 10, 2023, 7:59 PM ET
CIK 0001437491
regulatory
confidence high
sentiment negative
materiality 1.00
RiskOn International, Inc.: Nasdaq/NYSE listing notice — BitNile Metaverse receives Nasdaq delisting notice; executes 1-for-30 reverse stock split
RiskOn International, Inc.
- Nasdaq notified delisting effective May 17, 2023 because stock traded below $0.10 for 10 consecutive days.
- Company intends to appeal by May 15, 2023 seeking to regain compliance.
- Effective May 4, 2023, implemented 1-for-30 reverse stock split to increase share price.
- Post-split shares outstanding approximately 1.6 million; authorized shares reduced to 3.3 million.
- Amended Series A Preferred Stock to fix voting rights and conversion limits for Nasdaq compliance.
Key facts
Extracted from this filing and checked against the source text.
Listing & Compliance Notices
SEC 8-K Item 3.01
confidence 0.9
RiskOn International, Inc. received a nasdaq delisting notice notice regarding minimum bid price (rules 5810(c)(3)(A)(iii)).
- Exchange
- nasdaq
- Notice
- delisting notice
- Deficiency
- minimum bid price
- Rules
- 5810(c)(3)(A)(iii)
Exact text from the filing
May 8, 2023, BitNile Metaverse, Inc., a Nevada corporation (the “Company”) received a letter from the Listing Qualifications staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Staff has determined to delist the Company’s common stock, par value $0.001 per share (the “Common Stock”) from The Nasdaq Capital Market, effective May 17, 2023, pursuant to Listing Rule 5810(c)(3)(A)(iii), as the Company’s common stock traded below $0.10 per share for 10 consecutive trading days. According to the letter, the Company has until May 15, 2023 to appeal the Staff’s
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
RiskOn International, Inc.: Amendment to Certificate of Designation of Series A Convertible Redeemable Preferred Stock to fix voting rights and implement conversion limitations to comply with Nasdaq rules (effective 2023-05-08).
- Change
- charter amendment
- Effective
- 2023-05-08
Exact text from the filing
On May 8, 2023, the Company filed with the Nevada Secretary of State a Certificate of Amendment to the Certificate of Designation of Rights, Preferences and Limitations (the “Amended Certificate”) of Series A Convertible Redeemable Preferred Stock (the “Series A”).
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
RiskOn International, Inc.: Reverse stock split of Common Stock at a 1-for-30 ratio, effected by filing a Certificate of Change with the Nevada Secretary of State (effective 2023-05-04).
- Change
- charter amendment
- Effective
- 2023-05-04
Exact text from the filing
The Company effected the Reverse Split pursuant to the Company’s filing of a Certificate of Change (the “Certificate of Change”) with the Nevada Secretary of State on the Effective Date, in accordance with Nevada Revised Statutes (“NRS”) 78.209.
View on SEC.gov
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