Energous Corp. Faces Delisting Notice
Ticker: WATT · Form: 8-K · Filed: Dec 6, 2024 · CIK: 1575793
| Field | Detail |
|---|---|
| Company | Energous Corp (WATT) |
| Form Type | 8-K |
| Filed Date | Dec 6, 2024 |
| Risk Level | high |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00001, $434,000, $2.5 m, $35 million, $500,000 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: WATT
TL;DR
WATT got a delisting notice, might be moving exchanges.
AI Summary
Energous Corporation (WATT) filed an 8-K on December 6, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, with the earliest event reported on December 4, 2024. The company is incorporated in Delaware and headquartered in San Jose, California.
Why It Matters
This filing signals potential issues with Energous Corporation's compliance with stock exchange listing requirements, which could impact its stock's tradability 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 market presence and investor confidence.
Key Players & Entities
- Energous Corporation (company) — Registrant
- December 4, 2024 (date) — Earliest event reported
- December 6, 2024 (date) — Filing date
- San Jose, California (location) — Principal executive offices
FAQ
What specific listing rule or standard has Energous Corporation failed to satisfy?
The filing does not specify the exact rule or standard that Energous Corporation has failed to satisfy, only that a notice has been received.
What is the reason for the potential transfer of listing mentioned in the filing?
The filing states a 'Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing' but does not provide the specific reasons for the potential transfer.
When was the earliest event reported that led to this 8-K filing?
The earliest event reported was on December 4, 2024.
What is Energous Corporation's principal executive office address?
Energous Corporation's principal executive offices are located at 3590 North First Street, Suite 210, San Jose, California 95134.
What is the Commission File Number for Energous Corporation?
The Commission File Number for Energous Corporation is 001-36379.
Filing Stats: 860 words · 3 min read · ~3 pages · Grade level 15.1 · Accepted 2024-12-06 17:15:26
Key Financial Figures
- $0.00001 — ich registered Common Stock, par value $0.00001 per share WATT The Nasdaq Stock Mar
- $434,000 — e the Company's stockholders' equity of $434,000, as reported in the Company's Quarterly
- $2.5 m — 2024, was below the required minimum of $2.5 million, and the Company did not meet eit
- $35 million — value of listed securities of at least $35 million or net income from continuing operation
- $500,000 — from continuing operations of at least $500,000 in the most recently completed fiscal y
- $1.00 m — Company was not in compliance with the $1.00 minimum bid price requirement for continu
Filing Documents
- tm2430406d1_8k.htm (8-K) — 26KB
- image_001.jpg (GRAPHIC) — 20KB
- 0001104659-24-126360.txt ( ) — 251KB
- watt-20241204.xsd (EX-101.SCH) — 3KB
- watt-20241204_lab.xml (EX-101.LAB) — 33KB
- watt-20241204_pre.xml (EX-101.PRE) — 22KB
- tm2430406d1_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 December 4, 2024, Energous Corporation d/b/a Energous Wireless Power Solutions (the "Company") received notice (the "Notice") from the staff of the Listing Qualifications department (the "Staff") of The Nasdaq Stock Market ("Nasdaq") indicating the Company that the Company was not in compliance with the minimum stockholders' equity requirement for continued listing as set forth in Nasdaq Listing Rule 5550(b)(1) (the "Stockholders' Equity Requirement"), because the Company's stockholders' equity of $434,000, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, was below the required minimum of $2.5 million, and the Company did not meet either the alternative compliance standards relating to market value of listed securities of at least $35 million or net income from continuing operations of at least $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. Under Nasdaq listing rules and as specified in the Notice, the Company has 45 calendar days from the date of the Notice, or until January 20, 2025, to submit to the Staff a plan to regain compliance with the Stockholders' Equity Requirement. If the Company's plan to regain compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice for the Company to evidence compliance. The Company is presently evaluating various courses of action to regain compliance and intends to timely submit a plan to Nasdaq to regain compliance with the Stockholders' Equity Requirement. There can be no assurance that the Company's plan will be accepted or that if it is, that the Company will be able to regain compliance with the Stockholders' Equity Requirement. As previously reported, on August 29, 2024, the Company received a separate notice from the Staff ind
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. ENERGOUS CORPORATION Date: December 6, 2024 By: /s/ Mallorie Burak Name: Mallorie Burak Title: Chief Executive Officer and Chief Financial Officer