Item 3.01 Notice of Delisting of Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
(a)
On April 24, 2023, Synaptogenix, Inc. (the "Company") received written notice
from the Listing Qualifications Department of The Nasdaq Stock Market LLC
("Nasdaq") notifying the Company that for the preceding 30 consecutive business
days, the Company's common stock did not maintain a minimum closing bid price of
$1.00 per share as required by Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid
Price Requirement"). The notice has no immediate effect on the listing or
trading of the Company's common stock, and the common stock will continue to
trade on The Nasdaq Capital Market under the symbol "SNPX" at this time.
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a grace
period of 180 calendar days, or until October 23, 2023, to regain compliance
with Nasdaq Listing Rule 5550(a)(2). Compliance can be achieved automatically
and without further action if the closing bid price of the Company's stock is at
or above $1.00 for a minimum of 10 consecutive business days at any time during
the 180-day compliance period, in which case Nasdaq will notify the Company of
its compliance and the matter will be closed.
If, however, the Company does not achieve compliance with the Minimum Bid Price
Requirement by October 23, 2023, the Company may be eligible for additional time
to comply. In order to be eligible for such additional time, the Company will be
required to meet the continued listing requirement for market value of publicly
held shares and all other initial listing standards for The Nasdaq Capital
Market, with the exception of the Minimum Bid Price Requirement, and must notify
Nasdaq in writing of its intention to cure the deficiency during the second
compliance period, by effecting a reverse stock split, if necessary.
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