1) Rwlk didn’t wait the first full 180 days to seek shareholder approval it was more like 150 days. 2) Rwlk was in violation of more than the minimum bid standard and had to conduct offerings of shares and warrants to become compliant with Rule 5550(b) as well. 3) I don’t know if the shareholder meeting was moved to accommodate the R/S vote, but it doesn’t look like they could have waited much longer anyway considering they were in violation of more than one compliance rule.
What could this mean for EKSO? 1) being only in violation of Rule 5500(b) their chances of receiving an extension to 9/2020 are probably good if they include the intent to vote on R/S at annual shareholder meeting in 6/2020. 2) if they regain compliance before 6/2020 then shareholders can simply vote down the R/S... if not, then the vote can be held and the R/S ratio set accordingly. 3) there will be plenty of time to enact the R/S after shareholder meeting so no risk of losing their Nasdaq listing over timing
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