Subsequent Events

6 Months Ended

Jun. 30, 2018

Note 15. Subsequent Events

We have evaluated events and transactions subsequent to June 30, 2018 and through the date these consolidated financial statements were included in this Form 10-Q and filed with the SEC.

On June 4, 2018, we received a notice from the Staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq LLC”) indicating that, based upon our continued non-compliance with the minimum $1.00 bid price requirement for continued listing on The Nasdaq Capital Market (“NASDAQ”), as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Rule”) as of May 30, 2018, and notwithstanding our compliance with the quantitative criteria necessary to obtain a second 180-day period within which to evidence compliance with the Rule, as set forth in Nasdaq Listing Rule 5810(c)(3)(A), the Staff had determined to delist our securities from NASDAQ unless we timely requested a hearing before the Nasdaq Hearings Panel (the “Panel”). We timely appealed the delisting notice and appeared in front of the Panel on July 19, 2018. The Panel issued a decision on July 24, 2018 and affirmed the Staff’s decision to delist our common stock from NASDAQ, with suspension of trading to become effective at the open of business on July 26, 2018. The Panel indicated that NASDAQ will complete the delisting process by filing a Form 25 Notification of Delisting with the Securities and Exchange Commission, after all applicable appeals periods have lapsed. In accordance with NASDAQ’s Listing Rules, we have decided to appeal the delisting determination. Any such appeal would not stay the suspension of trading in our securities on NASDAQ. There can be no guarantee as to the outcome of any appeal.

On July 26, 2018, our shares began trading on the OTCQB Market ("OTCQB"), which is operated by OTC Market Groups Inc., under the symbol “IMNP.”