Current Report Filing (8-k)
23 Dezember 2022 - 10:16PM
Edgar (US Regulatory)
0001473334
false
0001473334
2022-12-22
2022-12-22
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): December 22, 2022
Nova
LifeStyle, Inc.
(Exact
name of registrant as specified in its charter)
| Nevada |
|
001-36259 |
|
90-0746568 |
| (State
or Other Jurisdiction |
|
(Commission |
|
(I.R.S.
Employer |
| of
Incorporation) |
|
File
Number) |
|
Identification
No.) |
6565
E. Washington Blvd., Commerce, CA 90040
(Address
of Principal Executive Office) (Zip Code)
(323)
888-9999
(Registrant’s
telephone number, including area code)
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. ☐
Securities
registered pursuant to Section 12(b) of the Act:
| Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
| Common
Stock, par value $0.001 per share |
|
NVFY |
|
Nasdaq
Stock Market |
Item 8.01. Other Events.
On
December 22, 2022, Nova LifeStyle, Inc. (the “Company”) received a written notification from the NASDAQ Stock Market Listing
Qualifications Staff (the “Staff”) indicating that the Company has been granted an additional 180 calendar day period or
until June 19, 2023, to regain compliance with the $1.00 minimum closing bid price requirement for continued listing on the NASDAQ Capital
Market pursuant to NASDAQ Listing Rule (the “Minimum Bid Price Requirement”).
NASDAQ’s
determination was based on the Company having met the continued listing requirement for market value of publicly held shares and all
other applicable requirements for initial listing on the NASDAQ Capital Market, with the exception of the bid price requirement, and
the Company’s written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting
a reverse stock split, if necessary. If at any time during this additional time period the closing bid price of the Company’s securities
is at least $1.00 per share for a minimum of 10 consecutive business days, NASDAQ will provide written confirmation of compliance and
this matter will be closed. If compliance cannot be demonstrated by June 19, 2023, Staff will provide written notification that the Company’s
securities will be delisted. At that time, the Company may appeal the Staff’s determination to a Hearings Panel (the “Panel”)
of NASDAQ.
The
Company will monitor the closing bid price of its shares of common stock and will consider various options to regain compliance before
June 19, 2023.
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.
| |
Nova
LifeStyle, Inc. |
| |
|
|
| |
By:
|
/s/
Thanh H. Lam |
| |
|
Thanh
H. Lam
|
| |
|
Chairperson,
President and Chief Executive Officer |
Date:
December 23, 2022
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