18.	NASDAQ CAPITAL MARKET LISTING REQUIREMENTS

September 2019,

the Company received a letter from Nasdaq stating that its share price had

not

satisfied the continued listing requirement to maintain a minimum bid price of

$1.00

per share, as set forth in Nasdaq Listing Rule

5550

(a)(

). On

November 16, 2020,

the Company held a special meeting of its stockholders to request a vote in favor of a reverse split at a ratio between

-for-

and

-for-

10,

to regain compliance with the Minimum Bid Price Requirement. We have until

December 4, 2020

to regain compliance with the Minimum Bid Price Requirement.

May 18, 2020

the Company received a notice (the “Notice”) from the Staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Capital Market LLC (“Nasdaq”) indicating the Company was

not

in compliance with Nasdaq Listing Rule

5550

(b)(

) because, the Company did

not

have a minimum of

$2,500,000

in stockholders' equity for continued listing on Nasdaq (the “Stockholders' Equity Requirement”). On

July 10, 2020,

the Company's plan to regain compliance with the Stockholders' Equity Requirement previously submitted to the Nasdaq was accepted and Nasdaq granted us an extension of

180

calendar days from the date of the Notice (

November 16, 2020)

for to provide evidence of compliance.

As discussed above, on

July 23, 2020,

the Company completed an underwritten public offering resulting in net cash proceeds of approximately

$22.7

million which was used, in part, to repay approximately

$4.2

million of outstanding convertible promissory notes. Accordingly, as of the date of this report the Company believes that it has satisfied compliance with the Stockholders' Equity Requirement.