Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 27

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 27
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 compliance. However, there can be
no assurance that the Company will be able to regain compliance and maintain our listing on the Nasdaq Capital Market. If the
Company fails to regain compliance during the extended compliance period, or if the Company fails to satisfy another Nasdaq
requirement for continued listing, Nasdaq could provide the Company with notice that the our securities will become
subject to delisting. In that event, we will have an opportunity to appeal Nasdaq’s decision to a hearings
panel.

On
December 31, 2024, the Company received a letter from Nasdaq’s Staff stating that for the 30 consecutive business day period between November 15, 2024 to December 30, 2024 the Company’s common stock
had failed to maintain a minimum closing bid price of $1.00 per share, as required for continued listing on The Nasdaq Capital Market
pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). Pursuant to Nasdaq Listing Rule 5810(c)(3)(A),
the Company has a period of 180 calendar days, or until June 30, 2025 (the “Compliance Period”), to regain compliance
with the Minimum Bid Price Requirement. To regain compliance, the closing bid price of the Company’s common stock must meet or
exceed $1.00 per share for a minimum of 10 consecutive trading days.

On
August 31, 2023 we received a letter from Nasdaq stating that for
the 30 consecutive business days the company had failed to meet the Minimum Bid Price Requirement. In accordance with Nasdaq rules, the
Company was provided with an initial period of 180 calendar days, or until February 27, 2024, to regain compliance with the Minimum Bid
Price Requirement and a second Grace Period on February 19, 2024 through August 26, 2024. As we had still not regained compliance by
August 2024, in order to regain compliance with the Minimum Bid Price Requirement, on August 6, 2024, we filed an amendment to our certificate
or incorporation to effect a 1-for-8 reverse stock split of our outstanding common stock (the “2024 Reverse Stock Split”).
The 2024 Reverse Stock Split became effective on August 13, 2024, when the Company’s common stock opened for trading on Nasdaq
on a post-split basis under the Company’s existing trading symbol