Nasdaq Correspondence

On May 4, 2018, the Company was notified by NASDAQ that we were no longer in compliance with the minimum bid price requirements of NASDAQ for continued listing and that we had until October 31, 2018 to regain compliance with this requirement or face delisting. On July 30, 2018 NASDAQ notified the Company that effective July 27, 2018 the Company was in compliance with the minimum bid price requirements of NASDAQ and the matter was determined to be closed.

Line of credit

Effective July 2018, the Company signed a letter of intent with Silicon Valley Bank to provide up to a 3-year $4,000,000 line of credit based on 80% of net available receivables, including a term portion of $850,000 to support capital expansions.