Focus Universal Inc. Faces Delisting Concerns
Ticker: FCUV · Form: 8-K · Filed: Sep 20, 2024 · CIK: 1590418
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
FOCUS might be delisted - big trouble brewing.
AI Summary
Focus Universal Inc. filed an 8-K on September 20, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The filing also includes Regulation FD disclosures and financial statements and exhibits. 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 continued listing on an exchange, which could significantly impact its stock trading 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 trading status and future viability.
Key Players & Entities
- FOCUS UNIVERSAL INC. (company) — Registrant
- September 19, 2024 (date) — Date of Earliest Event Reported
- 2311 East Locust Street, Ontario, California 91761 (address) — Principal Executive Offices
- 000-55247 (filing_id) — Company File Number
FAQ
What specific listing rule or standard has Focus Universal Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Focus Universal Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on September 19, 2024.
What is the principal executive office address for Focus Universal Inc.?
The principal executive offices of Focus Universal Inc. are located at 2311 East Locust Street, Ontario, California 91761.
What is the Commission File Number for Focus Universal Inc.?
The Commission File Number for Focus Universal Inc. is 000-55247.
What other items are included in this 8-K filing besides the notice of delisting?
This 8-K filing also includes Regulation FD Disclosure and Financial Statements and Exhibits.
Filing Stats: 854 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-09-20 17:24:41
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share FCUV The Nasdaq S
- $1 — e of the Company's security is at least $1 for a minimum of ten (10) consecutive b
Filing Documents
- focus_8k.htm (8-K) — 31KB
- focus_ex9901.htm (EX-99.1) — 12KB
- image_001.jpg (GRAPHIC) — 13KB
- 0001683168-24-006577.txt ( ) — 236KB
- fcuv-20240919.xsd (EX-101.SCH) — 3KB
- fcuv-20240919_lab.xml (EX-101.LAB) — 33KB
- fcuv-20240919_pre.xml (EX-101.PRE) — 24KB
- 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 September 20, 2024, Focus Universal Inc. (the "Company") announced that it has received approval from Listing Qualifications Department of the Nasdaq Stock Market ("Nasdaq") to transfer the listing from the Nasdaq Global Market to the Nasdaq Capital Market. The Company's securities will be transferred to the Capital Market at the opening of business on September 23, 2024. As previously disclosed, on March 20, 2024, Focus Universal Inc. (the "Company"), received a letter from the Listing Qualifications Department (the "Staff") of the Nasdaq Stock Market ("Nasdaq") notifying the Company that based upon the closing bid price for the last 30 consecutive business days, the Company no longer met the Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Rule"). The Company thereafter had 180 calendar days, or until September 16, 2024, (the "Initial Compliance Date"), to regain compliance with the Bid Price Rule or to transfer to the Nasdaq Capital Market and request an additional 180-day extension to comply with the Bid Price Rule. On September 19, 2024, the Company received a letter from the Staff, notifying the Company that the Company's securities would be transferred to the Nasdaq Capital Market effective as of September 23, 2024 and afforded another 180 calendar-day extension, or until March 17, 2025 (the "New Compliance Date"). If, at any time before the New Compliance Date, the bid price of the Company's security is at least $1 for a minimum of ten (10) 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. The Company will continue to actively monitor the closing bid price of its common stock and will evaluate available options, including, without limitation, submitting a transfer application to the Nasdaq Capital Market and/or seeking to effec
01
Item 7.01 Regulation FD Disclosure. A press release issued on September 20, 2024 announcing the listing on Nasdaq Capital Market. A copy of that press release is attached hereto as Exhibit 99.1.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release, dated September 20, 2024 104 Cover Page Interactive Data File, formatting Inline Extensible Business Reporting Language (iXBRL). 2 SIGNATURE 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. Date: September 20, 2024 FOCUS UNIVERSAL, INC. By: /s/ Desheng Wang Name: Desheng Wang Title: Chief Executive Officer 3