Recruiter.com Faces Nasdaq Delisting for Non-Compliance
Ticker: NIXXW · Form: 8-K · Filed: Jan 9, 2024 · CIK: 1462223
| Field | Detail |
|---|---|
| Company | Recruiter.Com Group, Inc. (NIXXW) |
| Form Type | 8-K |
| Filed Date | Jan 9, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: delisting, compliance, regulatory-filing
TL;DR
**RCRT got a delisting notice from Nasdaq; stock's in trouble.**
AI Summary
Recruiter.com Group, Inc. (RCRT) announced on January 5, 2024, that it received a notice from Nasdaq indicating its failure to meet continued listing standards. This means the company's stock is at risk of being delisted from the Nasdaq Capital Market. This matters to investors because delisting typically leads to reduced liquidity, lower stock prices, and makes it harder to trade the stock, potentially diminishing the value of their investment.
Why It Matters
Delisting from Nasdaq can severely impact a stock's liquidity and price, making it a less attractive and riskier investment for shareholders.
Risk Assessment
Risk Level: high — The company's failure to meet Nasdaq listing standards poses a significant risk of delisting, which can drastically reduce stock value and trading accessibility.
Analyst Insight
A smart investor would carefully evaluate their position in Recruiter.com Group, Inc. (RCRT) due to the significant risk of delisting and potential loss of liquidity, possibly considering reducing exposure or selling shares.
Key Players & Entities
- Recruiter.com Group, Inc. (company) — the registrant facing delisting
- Nasdaq (company) — the stock exchange from which the company may be delisted
- January 5, 2024 (date) — date of the earliest event reported regarding the delisting notice
- 500 Seventh Avenue New York, New York 10018 (address) — principal executive offices of Recruiter.com Group, Inc.
- 855-931-1500 (phone_number) — registrant's telephone number
Forward-Looking Statements
- Recruiter.com Group, Inc. stock will experience increased volatility and a potential decline in price. (Recruiter.com Group, Inc.) — high confidence, target: Q1 2024
- The company will likely attempt to regain compliance with Nasdaq listing standards. (Recruiter.com Group, Inc.) — medium confidence, target: Q2 2024
FAQ
What is the primary reason Recruiter.com Group, Inc. filed this 8-K?
Recruiter.com Group, Inc. filed this 8-K to report a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing' from Nasdaq, as stated in Item Information.
When did the earliest event reported in this 8-K occur?
The earliest event reported in this 8-K occurred on January 5, 2024, as indicated by 'Date of Report (Date of earliest event reported): January 5, 2024'.
What is the current business address of Recruiter.com Group, Inc.?
The current business address of Recruiter.com Group, Inc. is 500 Seventh Avenue, New York, New York 10018, according to the 'BUSINESS ADDRESS' section of the filing.
What is the Commission File Number for Recruiter.com Group, Inc.?
The Commission File Number for Recruiter.com Group, Inc. is 001-53641, as listed under 'Commission File Number' in the filing.
What is the registrant's telephone number?
The registrant's telephone number, including area code, is (855) 931-1500, as stated in the filing.
Filing Stats: 572 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-01-09 16:06:07
Filing Documents
- rcrt_8k.htm (8-K) — 25KB
- 0001654954-24-000370.txt ( ) — 145KB
- rcrt-20240105.xsd (EX-101.SCH) — 6KB
- rcrt-20240105_lab.xml (EX-101.LAB) — 14KB
- rcrt-20240105_cal.xml (EX-101.CAL) — 1KB
- rcrt-20240105_pre.xml (EX-101.PRE) — 9KB
- rcrt-20240105_def.xml (EX-101.DEF) — 2KB
- rcrt_8k_htm.xml (XML) — 3KB
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 January 5, 2024, Recruiter.com Group, Inc. (the "Company") received a notification letter from the Nasdaq Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the requirement to hold an annual meeting within twelve months of the Company's fiscal year end dated December 31, 2022, pursuant to Nasdaq Listing Rule 5620(a) (the "Annual Meeting Requirement"). In accordance with the Nasdaq Listing Rules, the Company has 45 calendar days, or until February 19, 2024, to submit a plan to regain compliance with the Annual Meeting Requirement. If the Company's plan is accepted, the Staff can grant an extension of up to 180 calendar days from the date of the notification letter, or until June 28, 2024, to regain compliance. If the Company's plan to regain compliance is not accepted, the Company will have an opportunity to appeal the decision pursuant to Nasdaq Listing Rule 5815(a); however, there can be no assurance that such appeal would be successful. There can be no assurance that the Company will be able to regain compliance with the Annual Meeting Requirement or will otherwise be in compliance with other Nasdaq listing criteria. 2
SIGNATURES
SIGNATURES 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. Date: January 9, 2023 Recruiter.com Group, Inc. /s/ Miles Jennings Miles Jennings Chief Executive Officer 3