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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of October 2023
Commission File Number: 001-38397
| Farmmi, Inc. |
| (Registrant’s name) |
Fl 1, Building No. 1, 888 Tianning Street, Liandu District
Lishui, Zhejiang Province
People’s Republic of China 323000
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.:
| Form 20-F ☒ |
| Form 40-F ☐ |
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Explanatory Note:
On October 9, 2023, Farmmi, Inc. (the “Company”) received notification from The Nasdaq Stock Market LLC (“Nasdaq”) that Staff has determined that for 10 consecutive business days, from September 25 to October 6, 2023, the closing bid price of the Company’s ordinary shares has been at $1.00 per share or greater. Accordingly, the Company has regained compliance with the minimum $1.00 bid price per share requirement for continued listing on The NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Rule”), and this matter is now closed.
As previously reported, on October 12, 2022, the Company received a notification letter from Nasdaq advising the Company of its noncompliance with the Minimum Bid Price Rule for 30 consecutive business days preceding the notice date. The Company was provided 180 calendar days, or until April 10, 2023, to regain compliance with the Minimum Bid Price Rule. The Company was unable to regain compliance within the initial compliance period. On April 13, 2023, Nasdaq granted the Company an additional 180 calendar days, or until October 9, 2023, to regain compliance with the Minimum Bid Price Rule.
The Company issued a press release announcing this matter on October 10, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Report on Form 6-K.
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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, thereunto duly authorized.
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| FARMMI, INC. |
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| Date: October 10, 2023 | By: | /s/ Yefang Zhang |
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| Name: | Yefang Zhang |
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| Title: | Chief Executive Officer |
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EXHIBIT 99.1
Farmmi Regains Compliance with Nasdaq Minimum Bid Price Requirement
LISHUI, China, October 10, 2023 – Farmmi, Inc. (“Farmmi” or the “Company”) (Nasdaq: FAMI), an agriculture products supplier in China, today announced that on October 9, 2023, it received notification from The Nasdaq Stock Market LLC ("Nasdaq") confirming the Company has cured the bid price deficiency and that the Company has regained compliance with Listing Rule 5550(a)(2). Accordingly, this matter is now closed and the Company's ordinary shares will continue to trade uninterrupted on Nasdaq under the ticker “FAMI”.
About Farmmi, Inc.
Established in 1998, Farmmi Inc. (Nasdaq: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. Farmmi sells its products both online and offline. For further information about the Company, please visit Farmmi’s website.
Forward-Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers’ businesses and our end purchasers’ disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
For more information, please contact Investor Relations:
Global IR Partners
David Pasquale
New York Office Phone: +1-914-337-8801
FAMI@Globalirpartners.com