Nexalin Technology Faces Delisting Concerns
Ticker: NXL · Form: 8-K · Filed: Sep 25, 2024 · CIK: 1527352
| Field | Detail |
|---|---|
| Company | Nexalin Technology, INC. (NXL) |
| Form Type | 8-K |
| Filed Date | Sep 25, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: NXL
TL;DR
NEXALIN facing delisting issues, stock could be in trouble.
AI Summary
Nexalin Technology, Inc. filed an 8-K on September 25, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The earliest event reported was September 23, 2024. The company is incorporated in Delaware and its principal executive offices are located in Houston, Texas.
Why It Matters
This filing indicates potential issues with Nexalin Technology's continued listing on an exchange, which could significantly impact its stock liquidity 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 stock trading status and investor confidence.
Key Players & Entities
- Nexalin Technology, Inc. (company) — Registrant
- September 23, 2024 (date) — Earliest event reported
- September 25, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- Houston, TX (location) — Business address
FAQ
What specific listing rule or standard has Nexalin Technology, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that has not been met, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the earliest date of the event reported in this 8-K filing?
The earliest event reported is dated September 23, 2024.
When was this 8-K form filed with the SEC?
This 8-K form was filed as of date September 25, 2024.
Where is Nexalin Technology, Inc. incorporated and what is its principal business address?
Nexalin Technology, Inc. is incorporated in Delaware and its principal business address is 1776 Yorktown, Suite 550, Houston, TX 77056.
What is the Commission File Number for Nexalin Technology, Inc.?
The Commission File Number for Nexalin Technology, Inc. is 001-41507.
Filing Stats: 632 words · 3 min read · ~2 pages · Grade level 12.8 · Accepted 2024-09-24 17:40:00
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share NXL The Nasdaq Stock Mark
- $1.00 — Company's common stock has fallen below $1.00 per share for 30 consecutive business d
Filing Documents
- nexalin_8k.htm (8-K) — 27KB
- 0001829126-24-006437.txt ( ) — 240KB
- nxl-20240923.xsd (EX-101.SCH) — 4KB
- nxl-20240923_def.xml (EX-101.DEF) — 26KB
- nxl-20240923_lab.xml (EX-101.LAB) — 36KB
- nxl-20240923_pre.xml (EX-101.PRE) — 25KB
- nexalin_8k_htm.xml (XML) — 6KB
01 Notice of Delisting or Failure to Satisfy a Continued
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 23, 2024, Nexalin Technology, Inc. (the "Company") received written notice (the "Notice") from the Nasdaq Stock Market ("Nasdaq") that, because the closing bid price for the Company's common stock has fallen below $1.00 per share for 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Global Market, pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement"). The Notice has no immediate effect on the listing of the Company's common stock on The Nasdaq Global Market. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until March 24, 2025, to regain compliance with the Bid Price Requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days prior to March 24, 2025. If the Company does not regain compliance by March 24, 2025, the Company may be eligible for an additional 180 calendar day grace period if it transfers the listing of its common stock to the Nasdaq Capital Market. The Company intends to monitor the closing bid price of its common stock and consider available options to regain compliance with Bid Price Requirement, but no decisions about a response have been made at this time. There can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement or will remain in compliance with other Nasdaq listing criteria. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report on form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. NEXALIN TECHNOLOGY, INC. By: /s/ Mark White Mark White Chief Executive Officer Dated: Sept