Aclarion Faces Delisting Concerns
Ticker: ACONW · Form: 8-K · Filed: Apr 12, 2024 · CIK: 1635077
| Field | Detail |
|---|---|
| Company | Aclarion, INC. (ACONW) |
| Form Type | 8-K |
| Filed Date | Apr 12, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 M, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: ACON
TL;DR
ACON is in danger of being delisted, stock might be toast.
AI Summary
Aclarion, Inc. filed an 8-K on April 12, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The earliest event reported was on April 8, 2024. The company was formerly known as Nocimed, Inc. and changed its name on February 26, 2015.
Why It Matters
This filing indicates potential issues with Aclarion's continued listing on an exchange, which could significantly impact its stock value and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's operations and stock value.
Key Players & Entities
- Aclarion, Inc. (company) — Registrant
- Nocimed, Inc. (company) — Former company name
- April 12, 2024 (date) — Filing date
- April 8, 2024 (date) — Earliest event date
- February 26, 2015 (date) — Name change date
FAQ
What specific listing rule or standard has Aclarion, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Aclarion, Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What are the potential consequences of failing to meet listing standards for Aclarion, Inc.?
The primary consequence is the potential delisting of the company's securities from the exchange, which could lead to reduced liquidity and investor confidence.
Has Aclarion, Inc. provided any details on the steps it plans to take to rectify the situation?
This particular filing (8-K) does not contain information regarding specific steps Aclarion, Inc. plans to take to rectify the situation.
When was Aclarion, Inc. previously known as Nocimed, Inc. and when did the name change occur?
Aclarion, Inc. was formerly known as Nocimed, Inc., and the date of the name change was February 26, 2015.
What is the filing date and the earliest event date reported in this 8-K filing?
The filing date is April 12, 2024, and the earliest event reported is April 8, 2024.
Filing Stats: 805 words · 3 min read · ~3 pages · Grade level 14.7 · Accepted 2024-04-12 16:01:11
Key Financial Figures
- $1.00 M — e Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth i
- $1.00 — ties to maintain a minimum bid price of $1.00 per share and, based upon the closing b
Filing Documents
- acon_8k.htm (8-K) — 32KB
- 0001683168-24-002343.txt ( ) — 246KB
- acon-20240408.xsd (EX-101.SCH) — 4KB
- acon-20240408_def.xml (EX-101.DEF) — 26KB
- acon-20240408_lab.xml (EX-101.LAB) — 36KB
- acon-20240408_pre.xml (EX-101.PRE) — 25KB
- acon_8k_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure to
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On April 8, 2024, Aclarion, Inc. (the "Company") received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that the Company is not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the "Bid Price Requirement"). The Notice does not result in the immediate delisting of the Company's common stock from The Nasdaq Capital Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price of the Company's common stock for the 30 consecutive business days for the period ending April 5, 2024, the Company no longer meets this requirement. The Notice indicated that the Company will be provided 180 calendar days (or until October 7, 2024) in which to regain compliance. If at any time during this 180 calendar day period the bid price of the Company's common stock closes at or above $1.00 per share for a minimum of ten consecutive business days, the Nasdaq staff (the "Staff") will provide the Company with a written confirmation of compliance and the matter will be closed. Alternatively, if the Company fails to regain compliance with Rule 5550(a)(2) prior to the expiration of the initial 180 calendar day period, the Company may be eligible for an additional 180 calendar day compliance period, provided (i) it meets the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market (except for the Bid Price Requirement) and (ii) it provides written notice to Nasdaq of its intention to cure this deficiency during the second compliance period by effecting a reverse stock split, if necessary. In the event the Company does
SIGNATURES
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. ACLARION, INC. April 12, 2024 /s/ John Lorbiecki Name: John Lorbiecki Title: Chief Financial Officer 3