Oblong, Inc. Faces Delisting Concerns

TL;DR

Oblong's on the chopping block - might get delisted.

AI Summary

Oblong, Inc. filed an 8-K on March 20, 2024, to report a notice of delisting or failure to satisfy a continued listing rule. The company, formerly known as GlowPoint, Inc., is based in Denver, Colorado, and operates in computer programming and data processing services.

Why It Matters

This filing indicates potential issues with Oblong, Inc.'s continued listing on an exchange, which could significantly impact its stock value and liquidity.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's operations and investor confidence.

Key Players & Entities

• Oblong, Inc. (company) — Registrant
• GlowPoint, Inc. (company) — Former company name
• March 20, 2024 (date) — Date of report
• Denver, Colorado (location) — Principal business address

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share OBLG Nasdaq Capital Market
• $1.00 — ness days, had closed below the minimum $1.00 per share and, as a result, the Company
• $1.00 m — e Company is not in compliance with the $1.00 minimum bid price requirement for the con

Filing Documents

• glow-20240320.htm (8-K) — 29KB
• ex991-pressrelease2024nasd.htm (EX-99.1) — 9KB
• image_0a.jpg (GRAPHIC) — 7KB
• 0000746210-24-000013.txt ( ) — 177KB
• glow-20240320.xsd (EX-101.SCH) — 2KB
• glow-20240320_lab.xml (EX-101.LAB) — 22KB
• glow-20240320_pre.xml (EX-101.PRE) — 13KB
• glow-20240320_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. As previously reported, on September 21, 2023, Oblong, Inc., a Delaware corporation (the " Company "), received written notice (the " Notice ") from the Nasdaq Stock Market, LLC (" Nasdaq ") indicating that the bid price for the Company's common stock (the "Common Stock"), for the last 30 consecutive business days, had closed below the minimum $1.00 per share and, as a result, the Company is not in compliance with the $1.00 minimum bid price requirement for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the " Bid Price Rule "). On March 20, 2024, the Company received written notification from the Listing Qualifications Department of Nasdaq, granting the Company's request for a 180-day extension to regain compliance the Bid Price Rule. The Company now has until September 16, 2024 to meet the requirement. If at any time prior to September 16, 2024, the bid price of the Company's ordinary shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will regain compliance with the Bid Price Rule . If the Company does not regain compliance with the Bid Price Rule during the additional 180-day extension, Nasdaq will provide written notification to the Company that its Common Stock will be delisted. At that time, the Company may appeal the relevant delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful. Nasdaq's extension notice has no immediate effect on the listing or trading of the Company's Common Stock, which will continue to trade on the Nasdaq Capital Market under the symbol "OBLG". The Company intends to actively monitor the cl

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On March 20, 2024, the Company issued a press release announcing its receipt of the 180-day extension to regain compliance with the Nasdaq Bid Price Rule. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. In accordance with General Instruction B.2 of Form 8-K, the information furnished under Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is deemed to be "furnished" and shall not be deemed "filed" for the purpose of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information and Exhibit be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release of Oblong, Inc. dated March 20, 2024 104 Cover Page Interactive Data File (embedded within the inline XBRL document). 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. OBLONG, INC. Date: March 20, 2024 By: /s/ Peter Holst Name: Peter Holst Title: President & CEO

View Full Filing

View this 8-K filing on SEC EDGAR