Helius Medical Technologies Faces Delisting Concerns
Ticker: HSDT · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1610853
| Field | Detail |
|---|---|
| Company | Helius Medical Technologies, Inc. (HSDT) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $2.5 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
TL;DR
Helius Medical Technologies might be delisted - stock exchange listing rules are a problem.
AI Summary
Helius Medical Technologies, Inc. filed an 8-K on April 5, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company is based in Newtown, PA, and its fiscal year ends on December 31st.
Why It Matters
This filing indicates potential issues with Helius Medical Technologies' compliance with stock exchange listing requirements, which could impact its stock's tradability 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 continued operation as a publicly traded entity.
Key Players & Entities
- HELIUS MEDICAL TECHNOLOGIES, INC. (company) — Registrant
- April 4, 2024 (date) — Earliest event reported
- April 5, 2024 (date) — Date of report
- Delaware (jurisdiction) — State of incorporation
- 36-4787690 (tax_id) — IRS Employer Identification No.
- 642 Newtown Yardley Road, Suite 100 (address) — Principal executive offices
- Newtown, PA 18940 (address) — Principal executive offices
FAQ
What is the primary reason for this 8-K filing?
The primary reason for this 8-K filing is to provide notice of a delisting or failure to satisfy a continued listing rule or standard.
What is the exact name of the company filing this report?
The exact name of the company filing this report is HELIUS MEDICAL TECHNOLOGIES, INC.
In which state was Helius Medical Technologies incorporated?
Helius Medical Technologies was incorporated in Delaware.
What is the address of the company's principal executive offices?
The address of the company's principal executive offices is 642 Newtown Yardley Road, Suite 100, Newtown, PA 18940.
What is the Commission File Number for Helius Medical Technologies?
The Commission File Number for Helius Medical Technologies is 001-38445.
Filing Stats: 562 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-04-05 17:00:17
Key Financial Figures
- $0.001 — hich registered Class A Common Stock, $0.001 par value HSDT The Nasdaq Stock Mar
- $2.5 million — ded December 31, 2023, has fallen below $2.5 million. The notice also indicates that the Com
Filing Documents
- hsdt-20240404x8k.htm (8-K) — 36KB
- hsdt-20240404x8k001.jpg (GRAPHIC) — 7KB
- 0001558370-24-004788.txt ( ) — 172KB
- hsdt-20240404.xsd (EX-101.SCH) — 3KB
- hsdt-20240404_lab.xml (EX-101.LAB) — 16KB
- hsdt-20240404_pre.xml (EX-101.PRE) — 10KB
- hsdt-20240404x8k_htm.xml (XML) — 5KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 4, 2024, Helius Medical Technologies, Inc. (the "Company") received written notice from the Nasdaq Stock Market LLC ("Nasdaq") stating that the Company no longer complies with the minimum stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1) for continued listing on The Nasdaq Stock Market LLC because the Company's stockholders' equity, as reported in the Company's Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2023, has fallen below $2.5 million. The notice also indicates that the Company does not meet the alternative compliance standards. Under applicable Nasdaq rules, the Company has 45 calendar days from the date of the notice, or until May 20, 2024, to submit a plan to regain compliance. The Company intends to timely submit such a plan to Nasdaq. If the Company's plan is accepted, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the notice to evidence compliance. The notice has no immediate impact on the listing of the Company's common stock, which will continue to trade on The Nasdaq Stock Market LLC under the symbol "HSDT". 1 SIGNATURE 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. HELIUS MEDICAL TECHNOLOGIES, INC. Dated: April 5, 2024 By: /s/ Jeffrey S. Mathiesen Jeffrey S. Mathiesen Chief Financial Officer, Treasurer and Secretary 2