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Aspen Group, Inc. – ‘8-K’ for 9/28/22

On:  Monday, 10/3/22, at 4:04pm ET   ·   For:  9/28/22   ·   Accession #:  1079973-22-1258   ·   File #:  1-38175

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/03/22  Aspen Group, Inc.                 8-K:3       9/28/22   10:186K                                   Edgar Tech & Bus… Inc/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     28K 
 5: R1          Cover                                               HTML     47K 
 8: XML         IDEA XML File -- Filing Summary                      XML     11K 
 6: XML         XBRL Instance -- aspu_8k_htm                         XML     15K 
 7: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 3: EX-101.LAB  XBRL Labels -- aspu-20220928_lab                     XML     96K 
 4: EX-101.PRE  XBRL Presentations -- aspu-20220928_pre              XML     63K 
 2: EX-101.SCH  XBRL Schema -- aspu-20220928                         XSD     12K 
 9: JSON        XBRL Instance as JSON Data -- MetaLinks               25±    32K 
10: ZIP         XBRL Zipped Folder -- 0001079973-22-001258-xbrl      Zip     15K 


‘8-K’   —   Current Report


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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________

 

FORM  i 8-K

______________

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  i September 28, 2022

 

 i ASPEN GROUP, INC.

(Exact name of registrant as specified in its charter)

 

 i Delaware    i 001-38175    i 27-1933597
(State or Other Jurisdiction   (Commission   (I.R.S. Employer
of Incorporation)   File Number)   Identification No.)

 

 i 276 Fifth Avenue,  i Suite 505,  i New York,  i NY  i 10001

(Address of Principal Executive Office) (Zip Code)

 

 i (646)  i 448-5144

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 i o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 i o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 i o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 i o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
 i Common Stock, $0.001 par value  i ASPU

 i The Nasdaq Stock Market

(The Nasdaq Global Market)

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

 

Emerging growth company   i ¨  

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 
 

 

 C: 

 

 

 

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On September 28, 2022, Aspen Group, Inc. (the “Company”) received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of its noncompliance with Nasdaq Listing Rule 5550(a)(2) (the “Rule”) by failing to maintain a minimum bid price for its common stock of at least $1.00 per share for 30 consecutive business days.

 

According to the letter, the Company has a 180 calendar day grace period to regain compliance with the Rule (the “Grace Period”), subject to a potential 180 calendar day extension, as described below. To regain compliance, the Company’s common stock must have a minimum closing bid price of at least $1.00 per share for at least 10 consecutive business days within the Grace Period. In the event the Company does not regain compliance by March 27, 2023, the end of the Grace Period, the Company may be eligible for an additional 180 calendar day grace period to regain compliance. To qualify for the additional grace period, the Company will be required to (i) submit, no later than the expiration date, an on-line Transfer Application, (ii) submit a non-refundable $5,000 application fee, (iii) meet the continued listing requirement for the market value of its publicly held shares and all other continued listing standards for The Nasdaq Stock Market, with the exception of the bid price requirement, and (iv) will need to provide written notice of its intention to cure the deficiency during the second grace period, by effecting a reverse stock split if necessary. However, if it appears to Nasdaq at the end of the Grace Period that the Company will be unable to cure the deficiency, or if the Company is not otherwise eligible for the additional cure period, Nasdaq will provide notice that the Company’s common stock will be subject to delisting.

 

The letter has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded on The Nasdaq Global Market, subject to the Company’s compliance with the other continued listing requirements of The Nasdaq Global Market.

 

The Company intends to monitor the bid price of its common stock and assess its options for maintaining the listing of its common stock on The Nasdaq Global Market.

  

Item 9.01  Financial Statements and Exhibits.

 

(d) Exhibits

  

Exhibit

No.

  Description
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

  

 

 C: 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  ASPEN GROUP, INC.  
       
Date:  October 3, 2022 By:   /s/ Michael Mathews  
    Name: Michael Mathews  
    Title:   Chief Executive Officer  

 

 

 

 

 

 

 

 

 

 C: 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
3/27/23
Filed on:10/3/22
For Period end:9/28/224
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