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.

On January 30, 2026, we received a notice from Nasdaq indicating that we did not meet the minimum of $2.5 million in stockholders' equity required by Nasdaq Listing Rule 5550(b)(1) for continued listing or the alternatives of market value of listed securities or net income from continuing operations. Pursuant to the Nasdaq listing rule, we submitted a plan to Nasdaq. Nasdaq accepted our plan, and we were granted an extension of up to 180 calendar days from January 30, 2026 to evidence compliance.

As reported in the Company's Quarter Report on Form 10-Q, the Company's total stockholders' equity as of May 31, 2026 was $3.1 million. As of the date of this Current Report, the Company believes that it has regained compliance with the stockholders' equity requirement.

Nasdaq will continue to monitor the Company's ongoing compliance with the stockholders' equity requirement and, if at the time of its next periodic report the Company does not evidence compliance, that it may be subject to delisting.

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