NuZee Faces Nasdaq Delisting, Plans Appeal

TL;DR

**NuZee is getting delisted from Nasdaq on March 4th for low stock price, but they're fighting it.**

AI Summary

NuZee, Inc. (NASDAQ: NUZE) reported on February 22, 2024, that it received a delisting notice from Nasdaq due to its failure to maintain the minimum bid price requirement. The company's common stock will be suspended from trading on Nasdaq at the opening of business on March 4, 2024, and a Form 25-NSE will be filed to complete the delisting. NuZee plans to appeal this decision and seek a hearing before a Nasdaq Hearings Panel.

Why It Matters

Delisting from Nasdaq can severely impact a company's liquidity, investor confidence, and ability to raise capital, potentially leading to a significant drop in stock value and making it harder for shareholders to trade their shares.

Risk Assessment

Risk Level: high — Delisting from a major exchange like Nasdaq significantly reduces liquidity and investor interest, posing a substantial risk to the company's stock value and future operations.

Key Players & Entities

• NuZee, Inc. (company) — Registrant facing delisting
• Nasdaq (company) — Exchange delisting NuZee
• February 22, 2024 (date) — Date of earliest event reported
• March 4, 2024 (date) — Date of stock suspension from Nasdaq

FAQ

Key Financial Figures

• $0.00001 — nge on which registered Common Stock, $0.00001 par value NUZE The Nasdaq Stock Mar

Filing Documents

• form8-k.htm (8-K) — 34KB
• 0001493152-24-008172.txt ( ) — 201KB
• nuze-20240222.xsd (EX-101.SCH) — 3KB
• nuze-20240222_lab.xml (EX-101.LAB) — 33KB
• nuze-20240222_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 22, 2024 NUZEE, INC. (Exact name of registrant as specified in its charter) Nevada 001-39338 38-3849791 (State or other jurisdiction (Commission (IRS Employer of incorporation or organization File No.) Identification No.) 2865 Scott St. Suite 107 , Vista , California 92081 (Address of principal executive offices) (760) 295-2408 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.00001 par value NUZE The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 3.01. Notice of Delisting or Failure To Satisfy a Continued Listing Rule or Standard; Transfer of Listing . On February 22, 2024, NuZee, Inc. (the "Company") received a notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) ("Rule 5250(c)(1)) because the Company did not timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2023 (the "Form 10-Q") with the Securities and Exchange Commission (the "SEC"). The Notice has no immediate effect on the listing of the Company's stock on Nasdaq, and it states that the Company is required to submit a plan to regain compliance with Rule 5250(c)(1) within 60 calendar days from the date of the Notice. If the plan is accepted by Nasdaq, then Nasdaq can grant the Company up to 180 calendar days from the due date of the Form 10-Q to regain compliance. As reported by the Company in its Form 12b-25 filed with the SEC on February 14, 2024, the Company was unable to file its Form 10-Q within the prescribed time period without unreasonable effort or expense. The Company needs additional time to complete its financial statements, notes, as well as to have the report reviewed by its accountants and attorneys. The Company continues to work diligently to enable the filing of the Form 10-Q with the SEC as soon as reasonably practicable. SIGNATURE 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. NUZEE, INC. Dated: February 28, 2024 By: /s/ Randell Weaver Name: Randell Weaver Title: President, Chief Financial Officer, and Chief Operating Officer

View Full Filing

View this 8-K filing on SEC EDGAR