UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 8.01 Other Events.
On August 3, 2023, RYVYL. Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”) that the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) for continued listing on Nasdaq. In order to regain compliance with the Minimum Bid Price Requirement, the Company’s common stock was required to maintain a closing bid price of at least $1.00 per share for a minimum of ten consecutive trading days. The Minimum Bid Price Requirement was met on July 21, 2023. However, the Staff of Nasdaq have imposed a panel monitor, for a period of six months until February 3, 2024. Under the terms of the panel monitor, if during the six-month monitoring period the Company fails any Nasdaq listing standard, the Staff of Nasdaq will promptly issue a Staff delisting determination. There can be no assurance that the Company will be able to maintain compliance with the Minimum Bid Price Requirement in the future.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
Description |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
RYVYL, Inc. |
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Date: August 15, 2023 |
By: |
/s/ Fredi Nisan |
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Name: Fredi Nisan Title: Chief Executive Officer |