Zivo Bioscience, Inc 8-K, filed Nov 29, 2022
Zivo Bioscience, Inc. (ZIVO)
About this 8-K
Zivo Bioscience, Inc filed this 8-K on November 29, 2022, reporting on events of November 22, 2022.
Items reported
- Item 3.01: Delisting notice or listing transfer
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Warrants to purchase shares of Common Stock, par value $0.001 per share | ZIVOW | The Nasdaq Stock Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 22, 2022, Zivo Bioscience, Inc. (the “Company”) received written notice from the Nasdaq Stock Market (“Nasdaq”) stating that the Company no longer complies with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) for continued listing on The Nasdaq Capital Market because the Company’s stockholders' equity, as reported in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, has fallen below $2.5 million. The notice also indicates that the Company does not meet the alternative compliance standards.
Under applicable Nasdaq rules, the Company has 45 calendar days from the date of the notice, or until January 6, 2023, to submit a plan to regain compliance. The Company intends to timely submit such a plan to Nasdaq. If the Company’s plan is accepted, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the notice to evidence compliance.
The notice has no immediate impact on the listing of the Company’s common stock or warrants, which will continue to trade on The Nasdaq Capital Market under the symbols “ZIVO” and “ZIVOW”, respectively.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ZIVO BIOSCIENCE, INC. | |||
| By: | /s/ Keith Marchiando |
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| Keith Marchiando |
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Date: November 29, 2022 |
| Chief Financial Officer |
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