Smart Powerr Corp. Faces Delisting Concerns
Ticker: CREG · Form: 8-K · Filed: Sep 27, 2024 · CIK: 721693
| Field | Detail |
|---|---|
| Company | Smart Powerr CORP. (CREG) |
| Form Type | 8-K |
| Filed Date | Sep 27, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, listing-standards
TL;DR
Smart Powerr Corp. might get delisted - stock could be in trouble.
AI Summary
Smart Powerr Corp. filed an 8-K on September 27, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The filing indicates a potential issue with meeting the requirements for continued listing on the exchange, as of September 25, 2024.
Why It Matters
This filing signals potential financial distress or non-compliance with exchange rules, which could lead to the stock being removed from trading.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to investors.
Key Players & Entities
- Smart Powerr Corp. (company) — Registrant
- September 25, 2024 (date) — Date of earliest event reported
- September 27, 2024 (date) — Filing date
- Nevada (jurisdiction) — State of incorporation
FAQ
What specific listing rule or standard has Smart Powerr Corp. failed to satisfy?
The filing does not specify the exact rule or standard that Smart Powerr Corp. 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 date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is September 25, 2024.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted on September 27, 2024.
What is the company's state of incorporation?
Smart Powerr Corp. is incorporated in Nevada.
Has the company undergone any previous name changes?
Yes, the company was formerly known as CHINA RECYCLING ENERGY CORP, CHINA DIGITAL WIRELESS INC, and BOULDER ACQUISITIONS INC, with name change dates in 2007, 2004, and 2002 respectively.
Filing Stats: 775 words · 3 min read · ~3 pages · Grade level 13.5 · Accepted 2024-09-27 16:30:07
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share CREG Nasdaq Stock Market
- $1.00 — maintain a minimum closing bid price of $1.00 per share (the "Minimum Bid Price Requi
Filing Documents
- ea0215891-8k_smart.htm (8-K) — 26KB
- 0001213900-24-082751.txt ( ) — 198KB
- creg-20240925.xsd (EX-101.SCH) — 3KB
- creg-20240925_lab.xml (EX-101.LAB) — 33KB
- creg-20240925_pre.xml (EX-101.PRE) — 22KB
- ea0215891-8k_smart_htm.xml (XML) — 4KB
01 Notice of Delisting or
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 24, 2024 (the "Notification Date"), Smart Powerr Corp. (the "Company") received a letter from the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share (the "Minimum Bid Price Requirement"), as set forth in Nasdaq Listing Rule 5550(a)(2), because the closing bid price of the Company's common stock was below $1.00 per share for 37 consecutive business days. The notification does not impact the listing of the Company's common stock on the Nasdaq Capital Market. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days from the Notification Date, until March 24, 2025, to regain compliance with the Minimum Bid Price Requirement. During this period, the Company's common stock will continue to trade on the Nasdaq Capital Market. If at any time before March 24, 2025, the bid price of the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive trading days, Nasdaq will provide written notification that the Company has achieved compliance with this Minimum Bid Price Requirement. In the event the Company does not regain compliance by March 24, 2025, the Company may be eligible for an additional 180 calendar day compliance period to demonstrate compliance with the bid price requirement. To qualify for the additional 180-day period, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Company does not qualify for
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. Date: September 27, 2024 SMART POWERR CORP. By: /s/ Guohua Ku Name: Guohua Ku Title: Chief Executive Officer and Chairman of the Board (Principal Executive Officer) 2