Bollinger Innovations Inc (BINI)

[I-Glow]

The SEC and Nasdaq have made some changes.

"The Exchange also has proposed to amend its rules to not permit a company to avail itself of any bid price compliance periods under Rule 5810(c)(3)(A), and instead require the issuance of a Staff Delisting
Determination, if a company falls out of compliance with the $1.00 minimum bid price after completing one or more reverse stock splits resulting in a cumulative ratio of 250 shares or more to one over the two-year period immediately prior to such non-compliance.

According to the Exchange, it believes it would be inappropriate to permit such securities to remain listed while relying on very large reverse stock splits to maintain compliance with the $1.00 minimum bid
price.

The Exchange’s proposal identifies securities listed on its market that have had serious and recurrent issues in meeting and regaining compliance with the $1.00 bid price continued listing requirement and proposes to prohibit such companies from utilizing the compliance periods and instead commence immediate delisting proceedings. This should help to protect
investors and the public interest, while at the same time providing a fair procedure for companies to appeal the Staff Delisting Determination to the Hearings Panel

Conclusion

IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Act,29 that the
proposed rule change (SR-NASDAQ-2020-001) be, and hereby is, approved.

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority."

I believe Nasdaq will see that Michery is trying to game the system by doing a 1:9 reverse split and under the 1:250 reverse split in 2 years - but the two Mullen reverse splits were in less than a year.

Without another reverse split Mullen won't gain compliance and the most it could be is a 1:1.1 reverse split.

The changes are meant for bad actors that continue to be in non-compliance on the minimum bid requirement.

You need to look at all of the companies that Nasdaq has delisted in 2023.

I don't believe Nasdaq will grant Mullen another 180 extension to become compliant - as Mullen has devastated shareholders.

Nasdaq needs to be made aware of the paid pumpers and pumping press releases and 8-Ks from Michery in attempting to manipulate the price.

IG