Phoenix Motor Inc. Faces Delisting Concerns
Ticker: PEVM · Form: 8-K · Filed: Oct 10, 2024 · CIK: 1879848
| Field | Detail |
|---|---|
| Company | Phoenix Motor Inc. (PEVM) |
| Form Type | 8-K |
| Filed Date | Oct 10, 2024 |
| Risk Level | high |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0004, $1, $2,500,000, $4,839,000, $23.7 m |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, listing-standards
TL;DR
Phoenix Motor Inc. is on the verge of being delisted, major red flag!
AI Summary
Phoenix Motor Inc. filed an 8-K on October 10, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company's principal executive offices are located at 1500 Lakeview Loop, Anaheim, CA 92807.
Why It Matters
This filing indicates potential issues with Phoenix Motor Inc.'s compliance with stock exchange listing requirements, which could impact its stock's tradability and investor confidence.
Risk Assessment
Risk Level: high — The company is reporting a notice of delisting or failure to meet continued listing standards, which poses a significant risk to its stock's marketability.
Key Players & Entities
- Phoenix Motor Inc. (company) — Registrant
- October 9, 2024 (date) — Earliest event reported
- October 10, 2024 (date) — Date of report
- 1500 Lakeview Loop, Anaheim, CA 92807 (location) — Principal executive offices
- 401 SOUTH DOUBLEDAY AVENUE, ONTARIO, CA 91761 (location) — Business and mail address
FAQ
What specific listing rule or standard has Phoenix Motor Inc. failed to satisfy?
The filing does not specify the exact rule or standard that Phoenix Motor Inc. has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is October 9, 2024.
What is the exact name of the registrant as specified in its charter?
The exact name of the registrant is Phoenix Motor Inc.
Where are Phoenix Motor Inc.'s principal executive offices located?
Phoenix Motor Inc.'s principal executive offices are located at 1500 Lakeview Loop, Anaheim, CA 92807.
What is the company's telephone number, including area code?
The company's telephone number, including area code, is (909) 987-0815.
Filing Stats: 1,219 words · 5 min read · ~4 pages · Grade level 16 · Accepted 2024-10-10 16:15:21
Key Financial Figures
- $0.0004 — ch registered Common Stock, par value $0.0004 per share PEV The Nasdaq Stock Mark
- $1 — ment to maintain a minimum bid price of $1 per share, as set forth in Nasdaq Listi
- $2,500,000 — he requirement to maintain a minimum of $2,500,000 in stockholders' equity. In the Form 10
- $4,839,000 — mpany reported stockholders' deficit of $4,839,000, which is below the minimum stockholder
- $23.7 m — d stockholders' equity of approximately $23.7 million, which exceeds the minimum stockh
- $5 million — the Company believes it meets both the $5 million minimum stockholders' equity requiremen
- $18 million — t stockholders' equity of approximately $18 million. This projection is based on the Compan
Filing Documents
- form8-k.htm (8-K) — 44KB
- 0001493152-24-040735.txt ( ) — 216KB
- pev-20241009.xsd (EX-101.SCH) — 3KB
- pev-20241009_lab.xml (EX-101.LAB) — 33KB
- pev-20241009_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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. Dated: October 10, 2024 PHOENIX MOTOR INC. By: /s/ Xiaofeng Denton Peng Name: Xiaofeng Denton Peng Title: Chief Executive Officer and Chairman of the Board 3