Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 248

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 248
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operations.

If
we fail to comply with the continued listing requirements of Nasdaq, it could result in our common stock being delisted, which could
adversely affect the market price and liquidity of our securities and could have other adverse effects.

On
December 31, 2024, the Company received a letter from the Nasdaq Listing Qualifications Staff of The Nasdaq Stock Market LLC 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 an initial period of 180 calendar days, or until June 30, 2025, 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 business days.

On
September 10, 2024, we received a letter from Nasdaq notifying the Company that it is no longer in compliance with the minimum stockholders’
equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain
stockholders’ equity of at least $2.5 million. In addition, presently, the Company does not meet the alternatives of market value
of listed securities or net income from continuing operations.

Our
plan of regain compliance has been accepted by Nasdaq and now we have 180 days, or until March 10, 2025, to regain compliance. However, there can be no
assurance that the Company will be able to regain compliance and maintain its 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 notice that the Company’s securities will become subject to delisting. In that event, the Company
will have an opportunity to appeal Nasdaq’s decision to a hearings panel.

While
we aim to regain compliance with Nasdaq’s stockholders equity requirement, we nonetheless run the risk that our stock may be delisted