Company: SONM
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022821
Chunk: 51

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 51
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 with business partners, and impact our ability to attract and retain key personnel.

The
risk factor titled “We are required to meet the Nasdaq continued listing requirements and other Nasdaq rules, or we may risk
delisting. Delisting could negatively affect the price of our common stock, which could make it more difficult for us to sell securities
in a future financing or for you to sell our common stock.” is amended and restated as follows:

We
are required to meet the Nasdaq continued listing requirements and other Nasdaq rules, or we may risk delisting. Delisting could negatively
affect the price of our common stock, which could make it more difficult for us to sell securities in a future financing or for you to
sell our common stock.

We
are required to meet the continued listing requirements of the Nasdaq and other Nasdaq rules, including those regarding director independence
and independent committee requirements, minimum stockholders’ equity, minimum share price and certain other corporate governance
requirements. In particular, we are required to maintain a minimum bid price for our listed common stock of $1.00 per share (which we
previously failed to meet resulting in two reverse stock splits in a five-year period in order to regain compliance) and either a minimum
stockholders’ equity of $2,500,000, or a minimum market value of our common stock of at least $35,000,000. If we do not meet these
continued listing requirements, our common stock could be delisted. We have a history of receiving deficiency letters from Nasdaq.

If
Nasdaq delists our common stock from trading on its exchange and we are not able to list our common stock on another national securities
exchange, we expect our common stock could be quoted on an over-the-counter market. If this were to occur, we could face significant
material adverse consequences, including:

    ●
    a limited availability
    of market quotations for our common stock;

    ●
    reduced liquidity for our
    common stock;

    ●
    a determination that our
    common stock is a “penny stock” which will require brokers trading in our common stock to adhere to more stringent rules
    and possibly result in a reduced level of trading activity in the secondary trading market for our securities;

    ●
    negative publicity;

    ●
    a limited amount of news
    and analyst coverage;

    ●
    loss of eligibility to
    register the sale or resale of our securities on Form S