Failure to Satisfy Listing Rule Form 8 K

Item 3.01. Notice of Delisting or Failure To Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed in our current report on Form 8-K filed with the Securities and Exchange Commission (the "Commission") on January 26, 2024, the Company received a notification letter from NASDAQ on January 23, 2024 (the "NASDAQ Notification Letter"), indicating that the Company was not in compliance with the NASDAQ Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"). The NASDAQ Notification Letter stated that the Company failed to maintain a minimum of $2,500,000 in stockholders' equity for continued listing, as required by the Stockholders' Equity Requirement.

On July 23, 2024, the Company received a letter from NASDAQ stating that based on the Company's Form 8-K, filed with the Commission on July 19, 2024, NASDAQ has determined that the Company has complied with Listing Rule 5550(b)(1).

However, in the future, if the Company fails to evidence compliance upon filing its next periodic report, it may be subject to a delisting determination, but any such determination may be appealed to a Hearings Panel.