SCWorx Corp. Faces Delisting Concerns
Ticker: WORX · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1674227
| Field | Detail |
|---|---|
| Company | Scworx Corp. (WORX) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, compliance, 8-K
TL;DR
SCWorx might get kicked off the exchange - big trouble.
AI Summary
SCWorx Corp. filed an 8-K on August 23, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, with the earliest event reported on August 19, 2024. The company, formerly known as Alliance MMA, Inc., is incorporated in Delaware and has its principal executive offices in New York.
Why It Matters
This filing indicates potential issues with SCWorx Corp.'s compliance with stock exchange listing requirements, 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 status and investor confidence.
Key Numbers
- 001-37899 — SEC File Number (Identifies the company's filings with the SEC.)
- 47-5412331 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- SCWorx Corp. (company) — Registrant
- Alliance MMA, Inc. (company) — Former company name
- August 19, 2024 (date) — Earliest event reported date
- August 23, 2024 (date) — Filing date
- 590 Madison Avenue (location) — Principal executive offices address
FAQ
What specific listing rule or standard has SCWorx Corp. failed to satisfy?
The filing does not specify the exact rule or standard that SCWorx Corp. 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 earliest date of the event reported in this 8-K?
The earliest event reported is dated August 19, 2024.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted on August 23, 2024.
What was SCWorx Corp.'s former company name?
SCWorx Corp.'s former company name was Alliance MMA, Inc.
Where are SCWorx Corp.'s principal executive offices located?
SCWorx Corp.'s principal executive offices are located at 590 Madison Avenue, 21st Floor, New York, New York 10022.
Filing Stats: 609 words · 2 min read · ~2 pages · Grade level 14.1 · Accepted 2024-08-23 15:25:17
Filing Documents
- ea0212246-8k_scworx.htm (8-K) — 25KB
- 0001213900-24-072163.txt ( ) — 190KB
- worx-20240819.xsd (EX-101.SCH) — 3KB
- worx-20240819_lab.xml (EX-101.LAB) — 33KB
- worx-20240819_pre.xml (EX-101.PRE) — 22KB
- ea0212246-8k_scworx_htm.xml (XML) — 3KB
01. NOTICE
ITEM 3.01. NOTICE OF DELISTING FOR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD: TRANSFER OF LISTING On August 19, 2024, the Nasdaq Stock Market notified SCWorx Corp. (the "Company" or "Registrant") that it has failed to satisfy a standard for continued listing, namely Nasdaq Listing Rule 5250(c)(1) (the "Rule), because the Registrant did not file its June 30, 2024 Quarterly Report on Form 10-Q by the due date of August 14, 2024 and because it remains delinquent in filing its Form 10-K for the period ended December 31, 2023 and its Form 10Q for the quarter ended March 31, 2024. As previously disclosed, due to the SEC's Order denying BF Borgers CPA PC ("BF Borgers") the privilege of appearing or practicing before the Commission as an accountant, on May 7, 2024, the board of directors of the Company dismissed BF Borgers CPA PC as the Registrant's independent registered public accounting firm, at which time work on the Registrant's periodic reports was delayed. As previously reported, the Registrant has since engaged a new independent registered public accounting firm to complete the audit and review of its annual and quarterly financial statements, respectively, as expeditiously as possible, following which the Registrant will promptly file its Annual Report on Form 10-K and Quarterly Reports on Form 10-Qs The Company submitted Nasdaq a revised plan to regain compliance with the Rule by no later than October 14, 2024. The Nasdaq Staff has accepted the Company's plan, granting the Company an extension of time until October 14, 2024 to regain compliance with the Rule's periodic reporting obligations. The Company fully expects to file its delinquent reports on or before this extended compliance date. 1
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. SCWorx Corp. By: /s/ Timothy Hannibal Timothy Hannibal CEO Dated: August 23, 2024 2