Note 17 - Subsequent Events
|6 Months Ended|
Jun. 30, 2023
|Notes to Financial Statements|
|Subsequent Events [Text Block]||
The Company has evaluated events and transactions subsequent to June 30, 2023 and through the date these condensed consolidated financial statements were included in this Quarterly Report on Form 10-Q and filed with the SEC.
On July 28, 2023, the Company received written notification from NYSE American stating that the staff of NYSE Regulation has determined to commence proceedings to delist the Company’s Common Stock. NYSE Regulation has determined that the Company is no longer suitable for listing pursuant to Section 1009(a) of the NYSE American Company Guide as the Company was unable to demonstrate that it had regained compliance with Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide by the end of the maximum 18-month compliance plan period, which expired on July 28, 2023. The NYSE American’s application with the SEC to delist the Company’s Common Stock is pending, subject to completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.
On August 4, 2023, the Company filed a written request to appeal the NYSE Regulation staff’s decision. There can be no assurance that the Company’s request for continued listing will be granted. The Company’s Common Stock will continue to be listed and traded on NYSE American during the pendency of the Company’s appeal, subject to NYSE American’s discretion to immediately suspend trading if it believes suspension to be in the public interest, for the protection of investors, or to promote just and equitable principles of trade.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef