Volcon (VLCN) Delisted from NASDAQ; Fails Listing Standards
Ticker: EMPD · Form: 8-K · Filed: Jan 4, 2024 · CIK: 1829794
Complexity: simple
Sentiment: bearish
Topics: delisting, regulatory-filing, stock-exchange, compliance-failure
TL;DR
**Volcon (VLCN) is getting kicked off NASDAQ, expect its stock to tank and be harder to trade.**
AI Summary
Volcon, Inc. filed an 8-K on January 4, 2024, to report that its common stock, traded under the symbol VLCN, is being delisted from NASDAQ. This means the company failed to meet NASDAQ's continued listing standards. For current or potential investors, this is a significant negative event as it often leads to reduced liquidity, lower stock prices, and makes the stock less attractive to institutional investors, potentially signaling deeper financial or operational issues within Volcon.
Why It Matters
Delisting from a major exchange like NASDAQ typically results in a significant drop in stock price and liquidity, making it harder for investors to buy or sell shares.
Risk Assessment
Risk Level: high — Delisting from NASDAQ is a severe negative event, indicating the company failed to meet critical financial or operational standards, and will likely lead to a substantial decrease in stock value and liquidity.
Analyst Insight
A smart investor would consider selling any existing shares of VLCN due to the high risk of further price depreciation and reduced liquidity, and avoid initiating new positions given the delisting from NASDAQ.
Key Players & Entities
- Volcon, Inc. (company) — the registrant filing the 8-K
- NASDAQ (company) — the exchange from which Volcon's stock is being delisted
- VLCN (company) — Volcon, Inc.'s trading symbol
- January 4, 2024 (date) — date of the earliest event reported and filing date
- $0.00001 (dollar_amount) — par value per share of Common Stock
Forward-Looking Statements
- Volcon's stock price will significantly decline following the delisting announcement. (VLCN) — high confidence, target: Q1 2024
- Volcon will likely trade on an over-the-counter (OTC) market after delisting from NASDAQ. (VLCN) — high confidence, target: Q1 2024
FAQ
What is the primary reason Volcon, Inc. filed this 8-K?
Volcon, Inc. filed this 8-K to report a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing' from NASDAQ, as stated in the 'ITEM INFORMATION' section.
What is Volcon, Inc.'s trading symbol and on which exchange was it registered?
Volcon, Inc.'s trading symbol is VLCN, and it was registered on NASDAQ, as indicated under 'Securities registered pursuant to Section 12(b) of the Act'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 4, 2024, as stated under 'Date of Report (Date of earliest event reported): January 4, 2024'.
What is the par value of Volcon, Inc.'s Common Stock?
The par value of Volcon, Inc.'s Common Stock is $0.00001 per share, as specified under 'Title of each class'.
Where are Volcon, Inc.'s principal executive offices located?
Volcon, Inc.'s principal executive offices are located at 3121 Eagles Nest Street, Suite 120, Round Rock, TX 78665, according to the 'Address of principal executive offices and zip code' section.
Filing Stats: 510 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-01-04 08:45:10
Key Financial Figures
- $0.00001 — h registered Common Stock , par value $0.00001 per share VLCN NASDAQ Indicate by
- $0.10 — common stock had a closing bid price of $0.10 or less for ten consecutive trading day
Filing Documents
- volcon_8k.htm (8-K) — 25KB
- 0001683168-24-000074.txt ( ) — 193KB
- vlcn-20240104.xsd (EX-101.SCH) — 3KB
- vlcn-20240104_lab.xml (EX-101.LAB) — 33KB
- vlcn-20240104_pre.xml (EX-101.PRE) — 22KB
- volcon_8k_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule. As previously reported, on December 26, 2023, Volcon, Inc. (the "Company") was notified by the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") that it had determined that the Company's common stock had a closing bid price of $0.10 or less for ten consecutive trading days from December 11, 2023 through December 22, 2023. Pursuant to Listing Rule 5810(c)(3)(A)(iii), if during the 180-day compliance period provided by Listing Rule 5810(c)(3)(A), a listed security has a closing bid price of $0.10 or less for ten consecutive trading days, the Staff shall proceed with a Staff delisting determination. Pursuant to the deficiency letter, the Staff notified that the Company that it had determined to delist the Company's common stock from The Nasdaq Capital Market The Company submitted a hearing request to Nasdaq's Hearings Department, which stayed the suspension of the Company's common stock. The Company's hearing is scheduled for March 26, 2024. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Volcon, Inc. (Registrant) Date: January 4, 2024 /s/ Greg Endo Greg Endo Chief Financial Officer 3