SolarMax Technology Faces Delisting Notice
Ticker: SMXT · Form: 8-K · Filed: Oct 29, 2024 · CIK: 1519472
| Field | Detail |
|---|---|
| Company | Solarmax Technology, Inc. (SMXT) |
| Form Type | 8-K |
| Filed Date | Oct 29, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001, $50,000,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-rules, compliance
TL;DR
SolarMax got a notice about failing to meet listing rules - could get kicked off the exchange.
AI Summary
SolarMax Technology, Inc. filed an 8-K on October 29, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The earliest event reported was on October 22, 2024. The company is incorporated in Nevada and its principal executive offices are located in Riverside, California.
Why It Matters
This filing indicates potential issues with SolarMax Technology's compliance with stock exchange listing standards, which could lead to its shares being delisted.
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 and investor confidence.
Key Players & Entities
- SolarMax Technology, Inc. (company) — Registrant
- October 29, 2024 (date) — Filing Date
- October 22, 2024 (date) — Earliest Event Reported Date
- Nevada (jurisdiction) — State of Incorporation
- Riverside, California (location) — Principal Executive Offices
FAQ
What specific listing rule or standard has SolarMax Technology, Inc. failed to satisfy?
The filing does not specify the exact rule or standard that SolarMax Technology, Inc. has failed to satisfy, only that a notice has been issued.
What is the earliest date associated with the reported event?
The earliest event reported in this 8-K filing is dated October 22, 2024.
When was this 8-K report filed with the SEC?
This 8-K report was filed on October 29, 2024.
In which state is SolarMax Technology, Inc. incorporated?
SolarMax Technology, Inc. is incorporated in Nevada.
What is the business address of SolarMax Technology, Inc.?
The business address of SolarMax Technology, Inc. is 3080 12th Street, Riverside, California 92507.
Filing Stats: 569 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-10-29 17:15:32
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share SMXT The Nasdaq Stock Mar
- $50,000,000 — um market value of listed securities of $50,000,000. The Nasdaq rules provide that the Comp
Filing Documents
- solarmax_8k.htm (8-K) — 26KB
- 0001640334-24-001607.txt ( ) — 147KB
- solarmax-20241022.xsd (EX-101.SCH) — 6KB
- solarmax-20241022_lab.xml (EX-101.LAB) — 14KB
- solarmax-20241022_cal.xml (EX-101.CAL) — 1KB
- solarmax-20241022_pre.xml (EX-101.PRE) — 9KB
- solarmax-20241022_def.xml (EX-101.DEF) — 2KB
- solarmax_8k_htm.xml (XML) — 4KB
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 October 22, 2024, SolarMax Technology, Inc. (the "Company") received a notice from The Nasdaq Stock Market that the Company does not meet the Nasdaq Global Market continued listing requirement Rule 5450(b)(2)(A) that the Company maintain a minimum market value of listed securities of $50,000,000. The Nasdaq rules provide that the Company has a compliance period of 180 calendar days to regain compliance. This period expires on April 21, 2025. To become compliant, the Company's minimum market value of listed securities must close at $50,000,000 or more for a minimum of ten consecutive business days. In the event the Company does not regain compliance with the rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting, and at that time the Company may appeal the delisting determination to a hearing panel. The Company may consider applying for a transfer from the Nasdaq Global Market to the Nasdaq Capital Market if it meets the continued listing requirements of the Nasdaq Capital Market.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 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. SolarMax Technology, Inc. By: /s/ David Hsu David Hsu Chief Executive Officer Dated: October 29, 2024 3