<SEC-DOCUMENT>0001437749-20-013796.txt : 20200625
<SEC-HEADER>0001437749-20-013796.hdr.sgml : 20200625
<ACCEPTANCE-DATETIME>20200624183454
ACCESSION NUMBER:		0001437749-20-013796
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200331
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200625
DATE AS OF CHANGE:		20200624

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Yunhong CTI Ltd.
		CENTRAL INDEX KEY:			0001042187
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED RUBBER PRODUCTS, NEC [3060]
		IRS NUMBER:				362848943
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23115
		FILM NUMBER:		20986647

	BUSINESS ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010
		BUSINESS PHONE:		8473821000

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CTI INDUSTRIES CORP
		DATE OF NAME CHANGE:	19970710
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>ctib20200624_8ka.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
<html><head>
	<title>ctib20200624_8ka.htm</title>

	<!-- Generated by ThunderDome Portal - 6/24/2020 10:01:04 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding: 0in 0.1in; cursor: auto;">
<p style="margin: 0pt; font-family: Times New Roman; font-size: 10pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8-K</b><b>/A</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amendment No. 1</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date of Report (Date of earliest event reported): March 31, 2020</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>YUNHONG </b><b>CTI </b><b>LTD.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in charter)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Illinois</b></p>
			</td>
			<td style="vertical-align:middle;width:2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>
			</td>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>000-23115</b></p>
			</td>
			<td style="vertical-align:middle;width:2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>
			</td>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>36-2848943</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction</p>
			</td>
			<td style="vertical-align:middle;width:2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission</p>
			</td>
			<td style="vertical-align:middle;width:2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(IRS Employer</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">of incorporation)</p>
			</td>
			<td style="vertical-align:middle;width:2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">File Number)</p>
			</td>
			<td style="vertical-align:middle;width:2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:32%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Identification No.)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>22160 N. Pepper Road Lake Barrington, </b><b>IL 60010</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal executive offices) (Zip Code)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(847) 382-1000</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Registrant&#8217;s telephone number, including area code)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Former name or former address, if changed since last report)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Times New Roman; font-size: 10pt;">

		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&#9744;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
			</td>
		</tr>
		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>
			</td>
		</tr>
		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&#9744;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
			</td>
		</tr>
		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>
			</td>
		</tr>
		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&#9744;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
			</td>
		</tr>
		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>
			</td>
		</tr>
		<tr style="vertical-align: top; font-family: Times New Roman; font-size: 10pt;">
			<td style="width: 18pt; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&#9744;</p>
			</td>
			<td style="font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

<table cellpadding="0pt" cellspacing="0pt" style="width: 100%; text-indent: 0px; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;">

		<tr style="font-family: Times New Roman; font-size: 10pt;">
			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 33%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;"><b>Title of each class</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 32%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;"><b>Trading Symbol(s)</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0); width: 33%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;"><b>Name of each exchange on which registered </b></p>
			</td>
		</tr>
		<tr style="font-family: Times New Roman; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; width: 33%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;">Common Stock</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 32%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;">CTIB</p>
			</td>
			<td style="vertical-align: top; width: 1%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 33%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;">The Nasdaq Stock Market LLC</p>

			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: center;">(The Nasdaq Capital Market)</p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167; 240.12b-2 of this chapter).</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">Emerging growth company &#9744;</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: justify;">If an emerging growth company, indicate by check mart if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-size:1pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Explanatory Note</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24pt;">This Current Report on Form 8-K/A is being filed Yunhong CTI Ltd. (the &#8220;Company&#8221;) as an amendment (the&nbsp;&#8220;Amendment&#8221;) to the Current Report on Form 8-K that the Company filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on April 2, 2020 to disclose that, on March 31, 2020, the Company and an investor agreed to convert the investor&#8217;s accounts receivable into shares of the Company&#8217;s newly created Series A Convertible Preferred Stock, however, circumstances related to COVID-19 delayed the formal execution of the parties&#8217; agreement to April 2, 2020. This Amendment is also being filed to state the exact amount of accounts receivable that was converted.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:24pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 1.01 Entry into a Material Definitive Agreement.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As previously disclosed on a Current Report on Form 8-K of Yunhong CTI Ltd. (the &#8220;Company&#8221;), on January 3, 2020, the Company entered into a stock purchase agreement (the &#8220;Purchase Agreement&#8221;), pursuant to which the Company agreed to issue and sell, and LF International Pte. Ltd., a Singapore private limited company (the &#8220;Investor&#8221;), agreed to purchase, up to 500,000 shares of the Company&#8217;s newly created Series A Convertible Preferred Stock (&#8220;Series A Preferred&#8221;), with each share of Series A Preferred initially convertible into ten shares of the Company&#8217;s common stock, at a purchase price of $10.00 per share, for aggregate gross proceeds of $5,000,000 (the &#8220;LF Offering&#8221;).&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As permitted by the Purchase Agreement, as amended, the Company may, in its discretion, issue up to an additional 200,000 shares of Series A Preferred for a purchase price of $10.00 per share (the &#8220;Additional Offering&#8221;, together with the LF Offering, the &#8220;Offering&#8221;). On April 2, 2020, an investor converted an accounts receivable of $478,017 owed to the investor by the Company in exchange for 48,200 shares of Series A Preferred (the &#8220;Conversion&#8221;). The Conversion was fully agreed upon on, and deemed effective as of, March 31, 2020, however, circumstances related to COVID-19 delayed the formal execution of the Conversion to April 2, 2020. In connection with the foregoing, the Company relied upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, for transactions not involving a public offering.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As previously disclosed on a Current Report on Form 8-K of the Company, on November 21, 2019, the Company received a notice of failure to satisfy a continued listing standard from Nasdaq under Listing Rule 5550(b)(1) which requires a minimum stockholders&#8217; equity of $2,500,000 (the &#8220;Deficiency Letter&#8221;). On January 2, 2020, the Company submitted to Nasdaq its plan to regain compliance under Listing Rule 5550(b)(1). On January 13, 2020, the Company received notice from Nasdaq that it had granted the Company an extension until March 31, 2020 to regain compliance under Listing Rule 5550(b)(1) (the &#8220;Extension Notice&#8221;).</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">As of March 31, 2020, the Company has sold an aggregate of 362,660 shares of Series A Preferred under the Offering for aggregate proceeds of $3,626,600. Accordingly, the Company believes that, as of March 31, 2020, it has regained compliance under Listing Rule 5550(b)(1). As noted above, as a result of the Conversion, the Company increased its stockholders&#8217; equity by an additional $478,017. Nasdaq will continue to monitor the Company&#8217;s ongoing compliance with the stockholders&#8217; equity requirement and, if at the time of the Company&#8217;s next periodic report the Company does not evidence compliance, it may be subject to delisting.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The description of the Deficiency Letter and Extension Notice is only a summary and is qualified in its entirety by reference to the full text of the forms of the Deficiency Letter and Extension Notice attached hereto as&nbsp;<u>Exhibit 99.1</u>&nbsp;and <u>Exhibit 99.2</u>, respectively.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Item 3.02 Unregistered Sales of Equity Securities.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The information set forth in Item 1.01 is incorporated by reference herein.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 9.01&nbsp; Financial Statements And Exhibits.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">(d) Exhibits</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:121.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The exhibits listed below are furnished as Exhibits to this Current Report on Form 8-K.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Times New Roman; font-size: 10pt;">

		<tr style="font-family: Times New Roman; font-size: 10pt;">
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 10.8%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">Exhibit No.</p>
			</td>
			<td style="vertical-align: top; width: 1.5%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 87.7%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">Description</p>
			</td>
		</tr>
		<tr style="font-family: Times New Roman; font-size: 10pt;">
			<td style="vertical-align: top; width: 10.8%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">99.1</p>
			</td>
			<td style="vertical-align: top; width: 1.5%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; width: 87.7%; font-family: Times New Roman; font-size: 10pt;">
			<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/1042187/000143774919023538/ex_165776.htm " style="-sec-extract:exhibit;">Deficiency Letter, dated November 21, 2019, incorporated by reference to Exhibit 99.1 of the Company&#8217;s Current Report on Form 8-k dated November 26, 2019</a></p>
			</td>
		</tr>
		<tr style="font-family: Times New Roman; font-size: 10pt;">
			<td style="vertical-align: top; width: 10.8%; font-family: Times New Roman; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 1.5%; font-family: Times New Roman; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 87.7%; font-family: Times New Roman; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: Times New Roman; font-size: 10pt;">
			<td style="vertical-align: top; width: 10.8%; font-family: Times New Roman; font-size: 10pt;">99.2</td>
			<td style="vertical-align: top; width: 1.5%; font-family: Times New Roman; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; width: 87.7%; font-family: Times New Roman; font-size: 10pt;"><a href="http://www.sec.gov/Archives/edgar/data/1042187/000143774920000735/ex_169617.htm " style="-sec-extract:exhibit;">Extension Notice, dated January 13, 2020, incorporated by reference to Exhibit 99.1 of the Company&#8217;s Current Report on Form 8-k dated January 16, 2020</a></td>
		</tr>

</table>

<p style="font-family: Times New Roman; font-size: 10pt; margin: 0pt; text-align: left;"><b>&nbsp;</b></p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURE</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:37.4pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Date: June 24, 2020</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:middle;width:49.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:middle;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>YUNHONG CTI LTD.</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:49.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td colspan="2" style="vertical-align:middle;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:49.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:3.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align:middle;border-bottom:solid 1px #000000;;width:46.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>/s/ Frank Cesario</i></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:49.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:3.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:46.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Frank Cesario</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:middle;width:49.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:3.1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:middle;width:46.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">President, Chief Executive Officer and Chief Financial Officer</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
