Gryphon Digital Mining Faces Delisting Notice
Ticker: ABTC · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1755953
| Field | Detail |
|---|---|
| Company | Gryphon Digital Mining, INC. (ABTC) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $35 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, listing-standards
Related Tickers: GRYP
TL;DR
GRYP got a delisting notice, might get kicked off the exchange.
AI Summary
Gryphon Digital Mining, Inc. filed an 8-K on September 13, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company previously operated as Akerna Corp. and MTech Acquisition Holdings Inc. before changing its name to Gryphon Digital Mining, Inc. on June 14, 2019.
Why It Matters
This filing indicates potential issues with Gryphon Digital Mining's compliance with stock exchange listing standards, which could lead to its shares being removed from trading.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's continued trading and investor confidence.
Key Players & Entities
- Gryphon Digital Mining, Inc. (company) — Registrant
- September 13, 2024 (date) — Report Date
- Akerna Corp. (company) — Former Company Name
- MTech Acquisition Holdings Inc. (company) — Former Company Name
- June 14, 2019 (date) — Date of Name Change
FAQ
What is the specific reason for Gryphon Digital Mining's notice of delisting or failure to satisfy a continued listing rule?
The provided text states that the filing is a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing' but does not detail the specific rule violated or the reason for the notice.
When was the company formerly known as Akerna Corp. and MTech Acquisition Holdings Inc.?
The company was formerly known as Akerna Corp. and MTech Acquisition Holdings Inc. The date of name change to Gryphon Digital Mining, Inc. was June 14, 2019.
What is Gryphon Digital Mining, Inc.'s principal executive address?
Gryphon Digital Mining, Inc.'s principal executive address is 1180 N. Town Center Drive, Suite 100, Las Vegas, NV 89144.
What is the Commission File Number for Gryphon Digital Mining, Inc.?
The Commission File Number for Gryphon Digital Mining, Inc. is 001-39096.
What is the IRS Employer Identification Number for Gryphon Digital Mining, Inc.?
The IRS Employer Identification Number for Gryphon Digital Mining, Inc. is 83-2242651.
Filing Stats: 669 words · 3 min read · ~2 pages · Grade level 14.5 · Accepted 2024-09-13 17:00:09
Key Financial Figures
- $0.0001 — ch Registered Common Stock, par value $0.0001 per share GRYP The Nasdaq Stock Mar
- $35 million — he "MVLS") falling below the minimum of $35 million required for continued listing on The N
Filing Documents
- ea0214511-8k_gryphon.htm (8-K) — 24KB
- 0001213900-24-078640.txt ( ) — 196KB
- gryp-20240913.xsd (EX-101.SCH) — 3KB
- gryp-20240913_lab.xml (EX-101.LAB) — 33KB
- gryp-20240913_pre.xml (EX-101.PRE) — 22KB
- ea0214511-8k_gryphon_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 13, 2024, Gryphon Digital Mining, Inc., a Delaware corporation (the "Company"), received a letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it is not in compliance with Nasdaq Listing Rule 5550(b)(2) as a result of the Company's Market Value of Listed Securities (the "MVLS") falling below the minimum of $35 million required for continued listing on The Nasdaq Capital Market (the "MVLS Requirement") from July 31, 2024 to September 12, 2024. In accordance with Nasdaq Listing Rule 5810(c)(3)(C), Nasdaq has provided the Company with 180 calendar days, or until March 12, 2025 (the "Compliance Date"), to regain compliance with the MVLS Requirement. To regain compliance during the 180-day period, the Company's MVLS must be at least $35 million for a minimum of ten consecutive business days at any time during this period, after which Nasdaq will provide written confirmation of compliance to the Company and the matter will be closed. If the Company does not regain compliance with the MVLS Requirement by the Compliance Date, or qualify under an alternative listing standard, the Company will receive written notification from Nasdaq that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination to a Nasdaq hearings panel. The Notice has no immediate effect on the listing of the Company's common stock, which will continue to trade on The Nasdaq Capital Market under the symbol "GRYP", subject to the Company's compliance with the other continued listing requirements of The Nasdaq Capital Market. The Company is considering available options to regain compliance with the MVLS Requirement. However, there can be no assurance that the Company will be able to regain compliance with the MVLS Requirement. 1 Pursuant to the