Helios and Matheson Analytics Inc (HMNY)

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NO DE-LISTING ON DEC 28, 2018 THE COMPANY IS APPEALING . IT WILL GAIN 45 DAYS. BECAUSE OF APPEALING. WE HAVE ANNUAL MEETING ON DEC 27.. CONVERTIBLE NOTES ELIMINATED.. POSSIBLE TO GAINS NASDAQ LISTING RULES UNTIL MID FEBRUARY 2019.


In accordance with Nasdaq’s procedures, the Company intends to appeal the Staff’s determination by requesting a hearing before the Panel (the “Hearing”) to seek continued listing. This hearing request will automatically stay the suspension of the Company’s securities and the filing of a Form 25-NSE pending the Panel’s decision. The Company expects that Nasdaq will hold the Hearing with the Panel within 45 days of the Company’s request for the Hearing, pursuant to the Nasdaq Listing Rules. At or prior to the Hearing, the Company intends to present its plans to Nasdaq to regain compliance with Rule 5550(a)(2) and request an extension of time so that the Board of Directors of the Company (the “Board”) and management of the Company can effect a reverse stock split at a time that is in the best interests of the Company and its stockholders. The Company intends to continue to monitor its closing bid price for its common stock and will continue considering all available options to resolve the Company’s noncompliance with Rule 5550(a)(2).
Also, as previously disclosed on the Current Report on Form 8-K filed August 30, 2018, the Company is no longer compliant with Nasdaq Listing Rule 5605(b)(1), which requires that a majority of the Board be independent, and Nasdaq Listing Rule 5605(c)(2)(A), which requires that the Audit Committee have at least three independent directors. In its notification letter dated September 6, 2018, Nasdaq advised that the Company will have until the following to cure these deficiencies:
· until the earlier of the Company’s next annual shareholders’ meeting or August 25, 2019; or


· if the next annual shareholders’ meeting is held before February 21, 2019, then the Company must evidence compliance no later than February 21, 2019.




The Board has nominated for election at the next annual shareholders’ meeting to be held on December 27, 2018, a new independent director who satisfies the applicable requirements of the Nasdaq Listing Rules to serve on the Company’s Board and Audit Committee.




https://www.sec.gov/Archives/edgar/data/1040792/000121390018017754/f8k121918_helios.htm