Intrusion Inc. Faces Nasdaq Delisting

TL;DR

Nasdaq's kicking INTRUSION INC off the exchange, trading stops Nov 1st. They're fighting it.

AI Summary

Intrusion Inc. announced on October 28, 2024, that it received a notice from the Nasdaq Stock Market indicating non-compliance with listing rules. The company has been notified that its common stock will be delisted from the Nasdaq Capital Market, with trading expected to cease on November 1, 2024. Intrusion Inc. plans to appeal this decision.

Why It Matters

This delisting could significantly impact the liquidity and trading of Intrusion Inc.'s stock, potentially affecting investor confidence and the company's ability to raise capital.

Risk Assessment

Risk Level: high — Receiving a delisting notice from a major stock exchange like Nasdaq indicates significant financial or operational distress, posing a substantial risk to investors.

Key Numbers

• November 1, 2024 — Delisting Date (The date trading is expected to cease on Nasdaq.)

Key Players & Entities

• Intrusion Inc. (company) — Registrant
• Nasdaq Stock Market (company) — Exchange issuing delisting notice
• Nasdaq Capital Market (company) — Specific market from which delisting is threatened
• November 1, 2024 (date) — Expected date of delisting
• October 28, 2024 (date) — Date of the notice

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
• $1.00 m — e Company is not in compliance with the $1.00 minimum bid price requirement set forth i
• $1.00 — ties to maintain a minimum bid price of $1.00 per share and, based upon the closing b

Filing Documents

• intrusion_8k.htm (8-K) — 27KB
• 0001683168-24-007444.txt ( ) — 199KB
• intz-20241028.xsd (EX-101.SCH) — 3KB
• intz-20241028_lab.xml (EX-101.LAB) — 33KB
• intz-20241028_pre.xml (EX-101.PRE) — 24KB
• intrusion_8k_htm.xml (XML) — 4KB

01. Notice of Delisting or Failure

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On October 28, 2024, Intrusion, Inc. (the "Company") received a written notice (the "Bid Price Notice") from the Listing Qualifications department (the "Nasdaq Staff") of The Nasdaq Stock Market ("Nasdaq") indicating that the Company is not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price Requirement") for continued listing on the Nasdaq Capital Market. The notification of noncompliance had no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Capital Market under the symbol "INTZ," and the Company is currently monitoring the closing bid price of its common stock and evaluating its alternatives, if appropriate, to resolve the deficiency and regain compliance with this rule. The Nasdaq rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price for the last 30 consecutive business days as of October 25, 2024, the Company no longer met this requirement. The Bid Price Notice indicated that the Company has been provided 180 calendar days, or until April 28, 2025, in which to regain compliance. If at any time during this period the closing bid price of the Company's common stock is at least $1.00 per share for a minimum of ten consecutive business days, the Nasdaq Staff will provide the Company with a written confirmation of compliance and the matter will be closed. Alternatively, if the Company fails to regain compliance with Rule 5550(a)(2) prior to the expiration of the 180 calendar day period, but meets the continued listing requirement for market value of publicly held shares and all of the other applicable standards for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and provides written notice of its intention to cure the def

View Full Filing

View this 8-K filing on SEC EDGAR