NuZee, Inc. Faces Delisting Concerns

Ticker: CIMG · Form: 8-K · Filed: Jul 25, 2024 · CIK: 1527613

Sentiment: bearish

Topics: delisting, listing-standards, regulatory

TL;DR

NuZee's in hot water with exchange rules, might get delisted.

AI Summary

NuZee, Inc. filed an 8-K on July 25, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company's principal executive offices are located at 1350 East Arapaho Road, Suite #230, Richardson, TX 75081. The filing date for this report is July 25, 2024, with the earliest event reported on July 23, 2024.

Why It Matters

This filing indicates potential issues with NuZee, Inc.'s ability to remain listed on an exchange, which could significantly impact its stock liquidity 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

FAQ

What specific listing rule or standard has NuZee, Inc. failed to satisfy?

The filing does not specify the exact rule or standard that NuZee, 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 earliest date of the event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on July 23, 2024.

Where are NuZee, Inc.'s principal executive offices located?

NuZee, Inc.'s principal executive offices are located at 1350 East Arapaho Road, Suite #230, Vista, California 92081.

What is the Commission File Number for NuZee, Inc.?

The Commission File Number for NuZee, Inc. is 001-39338.

Has NuZee, Inc. previously operated under a different name?

Yes, NuZee, Inc. was formerly known as Havana Furnishings Inc. and Havanna Furnishings Inc., with name changes occurring on August 15, 2011, and August 9, 2011, respectively.

Filing Stats: 537 words · 2 min read · ~2 pages · Grade level 13.3 · Accepted 2024-07-25 16:10:35

Key Financial Figures

Filing Documents

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): July 23, 2024 NUZEE, INC. (Exact name of registrant as specified in its charter) Nevada 001-39338 38-3849791 (State or other jurisdiction of incorporation or organization (Commission File No.) (IRS Employer 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. As previously disclosed in our current report on Form 8-K filed with the Securities and Exchange Commission (the "Commission") on January 26, 2024, the Company received a notification letter from NASDAQ on January 23, 2024 (the "NASDAQ Notification Letter"), indicating that the Company was not in compliance with the NASDAQ Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"). The NASDAQ Notification Letter stated that the Company failed to maintain a minimum of $2,500,000 in stockholders' equity for continued listing, as required by the Stockholders' Equity Requirement. On July 23, 2024, the Company received a letter from NASDAQ stating that based on the Company's Form 8-K, filed with the Commission on July 19, 2024, NASDAQ has determined that the Company has complied with Listing Rule 5550(b)(1). However, in the future, if the Company fails to evidence compliance upon filing its next periodic report, it may be subject to a delisting determination, but any such determination may be appealed to a Hearings Panel. 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: July 25, 2024 By: /s/ Randell Weaver Name: Randell Weaver Title: Co-Chief Executive Officer and Chief Financial Officer By: /s/ Jianshuang Wang Name: Jianshuang Wang Title: Co-Chief Executive Officer

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