Form 8-K - Current report
04 November 2023 - 8:15AM
Edgar (US Regulatory)
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0001437491
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2023-11-03
2023-11-03
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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): November
3, 2023
RISKON INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Nevada |
|
001-40701 |
|
30-0680177 |
(State or other jurisdiction of
incorporation or organization) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification No.) |
303 Pearl Parkway Suite 200, San Antonio, TX 78215
(Address of principal executive offices) (Zip Code)
(800) 762-7293
(Registrant's telephone number, including area
code)
BITNILE METAVERSE, INC.
(Former name or former address, if changed since
last report)
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))
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, $0.001 par value |
|
ROI |
|
The Nasdaq Capital Market |
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 |
On November 2, 2023, RiskOn International, Inc.
(the “Company”) received a notice in the form of a letter (“Deficiency Letter”) from the Listing Qualifications
Staff of the Nasdaq stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid price for the Company’s
common stock had closed below $1.00 per share for the previous 31 consecutive business days.
In accordance with Nasdaq listing rule 5810(c)(3)(A),
the Company has 180 calendar days, or until April 30, 2024, to regain compliance. The Deficiency Letter states that to regain compliance,
the bid price for the Company’s common stock must close at $1.00 per share or more (the “Minimum Bid Price”) for a minimum
of 10 consecutive business days during the compliance period ending April 30, 2024. In the event that the Company does not regain compliance
within this 180-day period, the Company may be eligible to seek an additional compliance period of 180 calendar days if it meets the continued
listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with
the exception of the Minimum Bid Price, and provides written notice to Nasdaq of its intent to cure the deficiency during this second
compliance period, by effecting a reverse stock split, if necessary. However, if it appears to the Nasdaq Staff that the Company will
not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice to the Company that its common
stock will be subject to delisting. At that time, the Company may appeal any such delisting determination to a Nasdaq hearings panel.
The Deficiency Letter has no immediate effect
on the listing of the Company’s common stock, and the Company’s common stock continues to trade on the Nasdaq Capital Market
under the symbol “ROI.”
The Company intends to actively monitor the closing
bid price for the Company’s common stock between now and April 30, 2024 and may, if appropriate, evaluate available options to resolve
the deficiency and regain compliance with the Minimum Bid Price requirement. While the Company is exercising diligent efforts to maintain
the listing of its common stock on Nasdaq, there can be no assurance that the Company will be able to regain compliance with the Minimum
Bid Price or maintain compliance with the other Nasdaq listing standards.
| Item 9.01 | Financial Statements and Exhibits. |
Exhibit No. |
|
Exhibit Description |
101 |
|
Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). |
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.
November 3, 2023 |
RiskOn International, Inc. |
|
|
|
By: |
/s/ Henry Nisser |
|
|
Henry Nisser |
|
|
President and General Counsel |
3
v3.23.3
Cover
|
Nov. 03, 2023 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Nov. 03, 2023
|
Entity File Number |
001-40701
|
Entity Registrant Name |
RISKON INTERNATIONAL, INC.
|
Entity Central Index Key |
0001437491
|
Entity Tax Identification Number |
30-0680177
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
303 Pearl Parkway Suite 200
|
Entity Address, City or Town |
San Antonio
|
Entity Address, State or Province |
TX
|
Entity Address, Postal Zip Code |
78215
|
City Area Code |
(800)
|
Local Phone Number |
762-7293
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
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|
Pre-commencement Issuer Tender Offer |
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|
Title of 12(b) Security |
Common Stock, $0.001 par value
|
Trading Symbol |
ROI
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
false
|
Entity Information, Former Legal or Registered Name |
BITNILE METAVERSE, INC.
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