Focus Universal Inc. Faces Delisting Concerns

TL;DR

Focus Universal Inc. might get delisted - big trouble ahead.

AI Summary

Focus Universal Inc. filed an 8-K on March 22, 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 2311 East Locust Street, Ontario, California.

Why It Matters

This filing indicates potential issues with Focus Universal Inc.'s compliance with stock exchange listing requirements, which could lead to its shares being delisted.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading status and investor confidence.

Key Players & Entities

• FOCUS UNIVERSAL INC. (company) — Registrant
• March 20, 2024 (date) — Date of Earliest Event Reported
• March 22, 2024 (date) — Filing Date
• 2311 East Locust Street, Ontario, California 91761 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common stock, $0.001 par value per share FCUV The Nasdaq S
• $50,000,000 — ed Securities ("MVLS") has fallen below $50,000,000 the Company no longer satisfies the req
• $1 — e of the Company's security is at least $1 for a minimum of ten consecutive busine
• $35,000,000 — Nasdaq Capital Market where the MVLS is $35,000,000. The Company will continue to actively

Filing Documents

• focus_8k.htm (8-K) — 29KB
• 0001683168-24-001646.txt ( ) — 197KB
• fcuv-20240320.xsd (EX-101.SCH) — 3KB
• fcuv-20240320_lab.xml (EX-101.LAB) — 33KB
• fcuv-20240320_pre.xml (EX-101.PRE) — 22KB
• focus_8k_htm.xml (XML) — 3KB

01

ITEM 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On March 20, 2024 and March 22, 2024, Focus Universal Inc. (the "Company"), received two separate letters from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq"). The March 20, 2024 letter was notifying the Company that based upon the closing bid price for the last 30 consecutive business days, the Company no longer meets the Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule"). In addition, on March 22, 2024, Nasdaq notified the Company that since the Company's Market Value of Listed Securities ("MVLS") has fallen below $50,000,000 the Company no longer satisfies the requirements to qualify for the Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the "MVLS Rule"). The notification received has no immediate effect on the Company's Nasdaq listing. In accordance with Nasdaq Listing Rule 5810(c)(3)(A) and 5810(c)(3)(C) (the "Compliance Period Rule"), the Company has been provided an initial period of 180 calendar days, or until September 16, 2024 and September 18, 2024, (the "Compliance Date"), to regain compliance with the Bid Price Rule and the MVLS Rule, respectively. If, at any time before the Compliance Date, the bid price of the Company's security is at least $1 for a minimum of ten consecutive business days, the Staff will provide written confirmation of compliance to the Company and this matter will be closed with respect to the Bid Price Rule. Concurrently, if, at any time before the Compliance date the Company's MVLS is over $50,000,000 or more for a minimum of ten consecutive business days then this matter will be closed with respect to the MVLS Rule. If the Company is not in compliance with the Bid Price Rule by September 16, 2024, the Company may be afforded a second 180 calendar day period to regain compliance. Pursuant to Rule 5810(c)(3)(A)(i)-(ii), to qualify, the Company would be

View Full Filing

View this 8-K filing on SEC EDGAR