Aclarion, Inc. Faces Delisting Concerns
Ticker: ACONW · Form: 8-K · Filed: Oct 11, 2024 · CIK: 1635077
| Field | Detail |
|---|---|
| Company | Aclarion, INC. (ACONW) |
| Form Type | 8-K |
| Filed Date | Oct 11, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1 B, $1.00 M, $1.00, $2.5 million, $1,642,177 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: ACON
TL;DR
ACON might get delisted - stock exchange rules are a problem.
AI Summary
Aclarion, Inc. filed an 8-K on October 11, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The earliest event reported was October 8, 2024. The company was formerly known as Nocimed, Inc. and was incorporated in Delaware.
Why It Matters
This filing indicates potential issues with Aclarion, Inc.'s compliance with stock exchange listing requirements, which could impact its stock's tradability 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 continued operation as a publicly traded entity.
Key Players & Entities
- Aclarion, Inc. (company) — Registrant
- October 11, 2024 (date) — Filing Date
- October 8, 2024 (date) — Earliest Event Reported Date
- Nocimed, Inc. (company) — Former Company Name
- Delaware (jurisdiction) — State of Incorporation
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 is the potential consequence of failing to satisfy a continued listing rule?
The consequence of failing to satisfy a continued listing rule or standard is typically delisting from the stock exchange, meaning the company's securities would no longer be traded on that exchange.
When was Aclarion, Inc. formerly known as Nocimed, Inc.?
Aclarion, Inc. was formerly known as Nocimed, Inc. prior to a name change on February 26, 2015.
What is the business address of Aclarion, Inc.?
The business address of Aclarion, Inc. is 8181 Arista Place, Suite 100, Broomfield, Colorado 80021.
What is the filing date of this 8-K report?
This 8-K report was filed as of October 11, 2024.
Filing Stats: 1,011 words · 4 min read · ~3 pages · Grade level 14.9 · Accepted 2024-10-11 16:20:32
Key Financial Figures
- $1 B — kground April 2024 Previous Notice of $1 Bid Price Listing Issue As previously d
- $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
- $2.5 million — es the Company to maintain a minimum of $2.5 million in stockholders' equity for continued l
- $1,642,177 — ompany reported stockholders' equity of $1,642,177, and, as a result, did not satisfy List
Filing Documents
- acon_8k.htm (8-K) — 35KB
- 0001683168-24-007100.txt ( ) — 256KB
- acon-20241008.xsd (EX-101.SCH) — 4KB
- acon-20241008_def.xml (EX-101.DEF) — 29KB
- acon-20241008_lab.xml (EX-101.LAB) — 36KB
- acon-20241008_pre.xml (EX-101.PRE) — 26KB
- 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 Background April 2024 Previous Notice of $1 Bid Price Listing Issue As previously disclosed, on April 8, 2024, Aclarion, Inc. (the "Company") received a written notice (the "April 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 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 met this requirement. August 22, 2024 Previous Notice of Stockholders' Equity Requirement Listing Issue As previously disclosed, the Company received written notice from Nasdaq on August 22, 2024, that the Company was not in compliance with Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Rule"), which requires the Company to maintain a minimum of $2.5 million in stockholders' equity for continued listing on The Nasdaq Capital Market. In its quarterly report on Form 10-Q for the period ended June 30, 2024, the Company reported stockholders' equity of $1,642,177, and, as a result, did not satisfy Listing Rule 5550(b)(1). The Company had previously appealed the Stockholders' Equity Rule matter to a Nasdaq hearing panel (the "Panel"). The hearing request stays any suspension or delisting action pending the conclusion of the hearing process and the expiration of any additional extension period granted by the Panel following the hearing. The appeal hearing for the Stockholders' Equity Rule matter was scheduled for October 10, 2024. October 2024 Notice of $1 Bid Price Non-Compliance We did not regain
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. October 11, 2024 By: /s/ John Lorbiecki Name: John Lorbiecki Title: Chief Financial Officer 3