Under the terms of the extension, Therapix must on or before November 18, 2019, complete a stockholders' equity
raising transaction, or other event, including the previously announced transaction with Destiny Biosciences Global Corp ('Destiny'), and evidence compliance by furnishing to the U.S.
In a press release dated April 17, 2019, the company announced notification by the Exchange on April 12, 2019 that it was not in compliance with the minimum stockholders' equity
requirement of Section 1003(a) of the NYSE American company Guide requiring stockholders' equity
of USD 6m or more if the company has reported losses from continuing operations and/or net losses in its five most recent fiscal years.
Further, the company is preparing a plan describing the actions being considered to regain compliance with the Stockholders' Equity
Requirement and which will be submitted to the exchange.
The company must submit to the Exchange, by August 28, 2017, a plan advising of the actions the company has taken or will take to regain compliance with the Stockholders' Equity
Requirement by January 29, 2019.
In the event that Polonia's consolidated stockholders' equity
, as calculated in accordance with the terms of the merger agreement, is less than USD 37.4m as of the specified date prior to the completion of merger, then the exchange ratio and the per share cash consideration are adjusted to reflect the amount of the difference between USD 37.4m and Polonia consolidated stockholders' equity
at such date.
The company will continue to monitor its market value of listed securities during the 180-day compliance period and will consider, to the extent necessary, other options for regaining compliance with either the USD2.5 million stockholders' equity
or USD35 million market value of listed securities requirements by the January 19, 2016 deadline.
The top half is the Assets, and the bottom half shows the Liabilities and Stockholders' Equity
For the six months ending June 30, annualized returns on average assets were 3.63 percent and average common stockholders' equity
were 38.05 percent.
Let's start with the stockholders' equity
account, in which there are 100,000 shares of common stock outstanding.
A portion of the charge is expected to reduce the stockholders' equity
in subsidiary Pulitzer Inc., and trigger the need for a waiver from lenders on a lending condition related to $306 million in debt.
Domestic bank lending to large borrowers (End-period, trillion won, %) 2000 2001 2002 Bank lending to large borrowers (A) 53.6 27.8 17.6 Stockholders' equity
(B) 55.1 59.8 70.3 Ratio (A/B) 97.2 46.5 25.0 Total bank lending (C) 371.2 408.0 552.2 Ratio (A/C) 14.4 6.8 3.2 2003 2004 2005 Bank lending to large borrowers (A) 39.3 32.5 36.0 Stockholders' equity
(B) 77.1 85.2 99.8 Ratio (A/B) 50.9 38.1 36.1 Total bank lending (C) 591.2 624.7 678.7 Ratio (A/C) 6.6 5.2 5.3 Jun 2006 Bank lending to large borrowers (A) 40.7 Stockholders' equity
(B) 109.0 Ratio (A/B) 37.4 Total bank lending (C) 750.0 Ratio (A/C) 5.4 Approval of bank lending in excess of the lending limit was granted as and when necessary, which contributed to the stability of the financial market.