RiskOn International, Inc.: Nasdaq/NYSE listing notice — RiskOn receives Nasdaq delisting notice; trading suspended Feb 28 pending appeal

RiskOn International, Inc.

Nasdaq Staff determined violations of Business Combination Rule and Shareholder Approval Rule related to BNC acquisition and Series D Preferred Stock issuance.
Common stock (ROI) trading will be suspended at market open on February 28, 2024.
Company has appealed to a Hearings Panel; hearing is scheduled for February 29, 2024.
If appeal fails, stock may trade on OTC Pink tier post-suspension.
Violations stem from Ault Alliance (AAI) gaining control without shareholder approval; Board and management replaced by AAI.

item 3.01 item 9.01

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 deficiency notice notice regarding other (rules 5110(a), 5635(b)).

Exchange: nasdaq
Notice: deficiency notice
Rules: 5110(a), 5635(b)

Exact text from the filing

February 21, 2024, RiskOn International, Inc., a Nevada corporation (the “ Company ”) received a letter (the “ Letter ”) from the Listing Qualifications staff (the “ Staff ”) of the Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that the Staff has determined that the Company has violated Nasdaq Listing Rule 5110(a) (the “ Business Combination Rule ”) and Listing Rule 5635(b) (the “ Shareholder Approval Rule ”) as a result of the acquisition of BitNile.com, Inc. (“ BNC ”), which closed on March 6, 2023 (the “ Business Combination ”). According to the Letter, the alleged violations o

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Source: SEC EDGAR

accession 0001214659-24-003595

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