Form 8-K - Current report
2024年1月11日 - 7:28AM
Edgar (US Regulatory)
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0001895618
0001895618
2024-01-09
2024-01-09
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
January 9, 2024
GAXOS.AI INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41620 |
|
87-3288897 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I. R. S. Employer
Identification No.) |
101 Eisenhower Pkwy, Suite 300, |
Roseland, NJ 07068 |
(Address of principal executive offices, including ZIP code) |
|
(973) 275-7428 |
(Registrant’s telephone number, including area code) |
|
Not Applicable |
(Former name or former address, if changed since last report) |
Securities registered
pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol |
|
Name of exchange on which registered |
Common Stock, par value $0.0001 |
|
NFTG |
|
The Nasdaq Stock Market LLC |
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:
☐ | Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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.
As previously reported,
On July 10, 2023, Gaxos.ai Inc. (formerly, The NFT Gaming Company, Inc.) (the “Company”) received written notice (the
“Notice”) from the , the Nasdaq Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market, LLC
(“Nasdaq”) indicating that the bid price for the Company’s common stock (the “Common Stock”), for the
last 30 consecutive business days, had closed below the minimum $1.00 per share and, as a result, the Company is not in compliance
with the $1.00 minimum bid price requirement for the continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing
Rule 5550(a)(2). The Company was provided an initial period of 180 calendar days, or until January 8, 2024 to regain compliance.
On January 9, 2024, the Staff
notified the Company that it has not regained compliance with Listing Rule 5550(a)(2) and is not eligible for a second 180 day period
because the Company does not comply with the minimum stockholders’ equity initial listing requirement for The Nasdaq Capital Market
(the “Delisting Determination”). Further, unless the Company requests an appeal of the Delisting Determination to a Hearings
Panel (the “Panel”), the Company’s securities will be scheduled for delisting from the Nasdaq Capital Market and will
be suspended at the opening of business on January 18, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission
(the “SEC”), which will remove the Company’s securities from listing and registration on the Nasdaq Stock Market. The
Company intends to submit a hearing request prior to this date which will stay the suspension of the Company’s securities and the
filing of the Form 25-NSE pending the Panel’s decision. The Company intends to submit a plan to the Panel that includes a discussion
of the events that it believes will enable it to regain compliance in this time frame and a commitment to effect a reverse stock split,
if necessary.
This Current Report on Form
8-K contains forward-looking statements, including, but not limited to, statements regarding the Company’s ability to regain compliance
with the minimum bid price requirement, the Company’s intentions to actively monitor closing bid price of its Common Stock and the
Company’s plans to consider implementing available options to regain compliance with the minimum bid price requirement. The Company’s
actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result
of these risks and uncertainties, including the risk that the Company may not meet the minimum bid price requirement during any compliance
period or in the future, the risk that the Company may not otherwise meet the requirements for continued listing under the Nasdaq Listing
Rules, the risk that Nasdaq may not grant the Company relief from delisting if necessary, the risk that the Company may not ultimately
meet applicable Nasdaq requirements if any such relief is necessary, among other risks and uncertainties. A further description of the
risks and uncertainties relating to the business of the Company is contained in the Company’s most recent Annual Report on Form
10-K, as may be amended or supplemented from time to time by the Company’s Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. The Company undertakes no duty or obligation to update any forward-looking statements contained in this Current Report on Form
8-K as a result of new information, future events or changes in its expectations.
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.
|
GAXOS.AI INC. |
|
|
|
January 10, 2024 |
By: |
/s/ Vadim Mats |
|
Name: |
Vadim Mats |
|
Title: |
Chief Executive Officer |
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