Volcon (VLCN) Receives NASDAQ Delisting Notice
Ticker: EMPD · Form: 8-K · Filed: Jan 5, 2024 · CIK: 1829794
| Field | Detail |
|---|---|
| Company | Volcon, INC. (EMPD) |
| Form Type | 8-K |
| Filed Date | Jan 5, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001, $35,000,000 |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: delisting, regulatory-filing, exchange-notice
TL;DR
**Volcon got a delisting notice from NASDAQ, big trouble for stock liquidity.**
AI Summary
Volcon, Inc. (VLCN) announced on January 5, 2024, that it received a delisting notice from NASDAQ due to failing to meet continued listing standards. This means Volcon's common stock, currently traded under the symbol VLCN, is at risk of being removed from the NASDAQ exchange. For investors, this is a significant concern because delisting can severely reduce a stock's liquidity and make it harder to buy or sell shares, potentially leading to a lower stock price.
Why It Matters
Delisting from NASDAQ would significantly reduce Volcon's stock liquidity and visibility, making it a much riskier and less attractive investment.
Risk Assessment
Risk Level: high — A delisting notice indicates severe financial or operational issues that could lead to the stock trading on less regulated, illiquid markets.
Analyst Insight
A smart investor would carefully evaluate Volcon's plan to regain compliance with NASDAQ's listing standards and consider the increased risk of holding shares if delisting occurs, potentially leading to a decision to reduce or exit their position.
Key Players & Entities
- Volcon, Inc. (company) — the registrant receiving the delisting notice
- NASDAQ (company) — the exchange from which Volcon, Inc. is at risk of delisting
- VLCN (company) — Volcon, Inc.'s trading symbol
- January 5, 2024 (date) — date of the 8-K filing and earliest event reported
FAQ
What is the primary reason Volcon, Inc. filed this 8-K?
Volcon, Inc. filed this 8-K to report that it received 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 is it currently registered?
Volcon, Inc.'s trading symbol is VLCN, and its common stock is currently registered on NASDAQ, as indicated under 'Securities registered pursuant to Section 12(b) of the Act'.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing is January 4, 2024, as specified under 'Date of Report (Date of earliest event reported): January 4, 2024 ( January 5, 2024 )'.
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 'BUSINESS ADDRESS' section.
What is Volcon, Inc.'s Central Index Key (CIK)?
Volcon, Inc.'s Central Index Key (CIK) is 0001829794, as listed under 'COMPANY DATA' in the filing.
Filing Stats: 552 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-01-05 17:00:12
Key Financial Figures
- $0.00001 — h registered Common Stock , par value $0.00001 per share VLCN NASDAQ Indicate by
- $35,000,000 — d securities had been below the minimum $35,000,000 required for continued listing as set f
Filing Documents
- volcon_8k.htm (8-K) — 26KB
- 0001683168-24-000102.txt ( ) — 194KB
- vlcn-20240105.xsd (EX-101.SCH) — 3KB
- vlcn-20240105_lab.xml (EX-101.LAB) — 33KB
- vlcn-20240105_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. On July 5, 2023, Volcon, Inc. (the "Company") was notified by the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") that the market value of its listed securities had been below the minimum $35,000,000 required for continued listing as set forth in Listing Rule 5550(b)(2) (the "Rule") for the previous 30 consecutive trading days. In accordance with Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until January 2, 2024, to regain compliance with the Rule. As the Company has not regained compliance with the Rule, on January 4, 2024, the Staff notified the Company that the above matter serves as a basis for delisting the Company's securities from The Nasdaq Stock Market, in addition to the share price deficiencies previously disclosed by the Company. The notification does not have any immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market. The Company previously submitted a hearing request to Nasdaq's Hearings Department, and the Company's hearing is scheduled for March 26, 2024. At that hearing, the Nasdaq Hearings Panel will consider the above deficiencies and the Company's plan of compliance. 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 5, 2024 /s/ Greg Endo Greg Endo Chief Financial Officer 3