Replies to post #13504 on Simply Inc. (SIMPQ)

[Perfectshot23]

On May 4, 2017, we requested an oral hearing before the NASDAQ Hearings Panel to appeal the NASDAQ Staff’s delisting determination. On that same day, we received a response from NASDAQ that our request for a hearing was granted, and the hearing was scheduled for June 1, 2017. At the hearing, we intend to present a plan to regain compliance with the bid price requirement, which plan will necessarily include the option of a near-term reverse stock split. However, there can be no assurance that the NASDAQ Staff will grant our request for continued listing.

[Perfectshot23]

, in March 2017, due to the Company’s continuing losses, the line of credit was amended to eliminate the Company’s ability to borrow against its accounts receivable.  We will, therefore, need to rely for the foreseeable future upon our existing working capital and vendor credit as the sole sources of financing.  Given the losses we have sustained over the last four quarters, these resources may not be sufficient to adequately fund our operations for the coming year.  This could force us to make further reductions in spending, curtail planned programs or take other actions that could materially harm our business, results of operations and future prospects.  It may also be necessary for us to seek other debt, equity or equity-based financing.