RiskOn International, Inc.: Nasdaq/NYSE listing notice — RiskOn International receives Nasdaq delisting notice for multiple rule violations

RiskOn International, Inc.

Nasdaq Hearings Panel decided to delist common stock for violating Listing Rules 5110(a), 5635(b) (BitNile.com acquisition), and Rule 5640 (public interest concerns).
Also failed to meet minimum $2.5M stockholders' equity requirement and hasn't demonstrated ability to regain compliance in near term.
Stock has been suspended from Nasdaq since Feb 28, 2024; currently trades on OTC Pink under symbol ROII.
Delisting may trigger default on Senior Secured Convertible Notes issued April 27, 2023, requiring repurchase at holders' option.
Potential impacts include reduced liquidity, limited investor interest, penny stock designation, and impairment of equity incentives.

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 stockholders equity (rules 5110(a), 5635(b), 5640, 5550(b)(1)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: stockholders equity
Rules: 5110(a), 5635(b), 5640, 5550(b)(1)

Exact text from the filing

April 12, 2024, RiskOn International, Inc., a Nevada corporation (the “ Company ”) received a written notice from the Nasdaq Hearings Panel (the “ Panel ”) that the Panel had determined to delist the Company’s common stock (“ Common Stock ”) from The Nasdaq Capital Market (the “ Nasdaq Capital Market ”). The Panel reached its decision to delist the Common Stock from the Nasdaq Capital Market for violating Nasdaq Listing Rule 5110(a) and Listing Rule 5635(b) as a result of the acquisition of BitNile.com, Inc., which closed on March 6, 2023. In addition, the Panel concluded that the Company’s mu

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Source: SEC EDGAR

accession 0001214659-24-007023

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