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Re: monentum2play post# 629273

Friday, 09/08/2023 11:56:26 AM

Friday, September 08, 2023 11:56:26 AM

Post# of 703738

What you are saying that delisting was voluntary, not forced by Nasdaq. So rejoining would be easier to do.


Uhm, I have no idea what he is saying but the actual story is a bit different.

NWBO had been subject to 3 separate delisting notices in 2016.

April 26. Failure to allow sharehodlers to vote on a 20% share issuance
This is was resolved when under pressure from both Nasdaq and lawsuits LP reversed the deal. NASAQ accepted that and the matter was closed

June 24. Failure to maintain a $1 bid
NWBO announced they were planning to implement a R/S if needed.

Nov 14. A different failure to comply with governance rules on requiring votes for sales of more than 20% of stock
This was based on the steady stream of finances that added up to over 20%. NWBO tried to resolve this and NASDAQ did not accept that.

To say it was voluntary is like the old joke. "You can't fire me, I quit".

As some additional flavor. NWBO was delisted by the NASDAQ on a different occasion. that is a fact. And NWBO governance issues over the last 5 years would have had many reasons for the NASDAQ to delist them
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