Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 72

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 72
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    prohibiting any persons from voting more than
    10% of our outstanding shares of common stock;

    ·
    providing for a plurality voting standard in the
    election of directors without cumulative voting;

    ·
    providing that our stockholders may remove members
    of our board of directors only for cause;

    ·
    enabling our board of directors to issue additional
    shares of authorized, but unissued capital stock;

    ·
    enabling our board to issue “blank check”
    preferred stock without further stockholder approval; and

    ·
    enabling our board of directors to amend our bylaws
    without stockholder approval.

Bancorp
34 qualifies as a “smaller reporting company,” and the reduced disclosure obligations applicable to smaller reporting companies
may make its common stock less attractive to investors.

Bancorp 34 is a “smaller
reporting company,” as defined in federal securities laws, and will remain a smaller reporting company until: (i) the fiscal year
following the determination that the market value of its voting and non-voting common shares held by non-affiliates is more than $250
million measured on the last business day of its second fiscal quarter; or (ii) its annual revenues are less than $100 million during
the most recently completed fiscal year and the market value of its voting and non-voting common shares held by non-affiliates is more
than $700 million measured on the last business day of its second fiscal quarter. Smaller reporting companies have reduced disclosure
obligations, such as an exemption from providing selected financial data and an ability to provide simplified executive compensation
information and only two years of audited financial statements. If some investors find Bancorp 34’s common stock less attractive
because Bancorp 34 may rely on these reduced disclosure obligations, there may be a less active trading market for its common stock and
its stock price may be more volatile.

The
suspension of our obligation to file current, quarterly and annual reports with the SEC under Section 15(d) of the Exchange Act will
result in less information about our financial condition and results of operations being readily available to the public and have other
potentially adverse consequences to holders of our common stock.

After we file this Annual Report
on Form 10-K we will cease to file annual, quarterly, current, and other reports and documents with the SEC. We will not be providing
periodic reports in the format currently required of us under the