Solarmax Technology Inc. (SMXT) filed a Form 8K - Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing - with the U.S Securities and Exchange Commission on June 30, 2026.
On June 22, 2026, SolarMax Technology, Inc. (the "Company") received a notice from The Nasdaq Stock Market that the Company does not meet the Nasdaq Capital Market continued listing requirement Rule 5550(b)(2) that the Company maintain a minimum market value of listed securities of $35 million. The Nasdaq rule provides that the Company has a compliance period of 180 calendar days to regain compliance. This period expires on December 21, 2026. To become compliant, the market value of listed securities, which is the most recent total shares outstanding multiplied by the closing bid price, must be at least $35 million 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.
The notice from Nasdaq described in the preceding paragraph is in addition to the previously announced notice from the Nasdaq Stock Market of the failure of the Company to maintain a minimum bid price of $1.00 per share
The full text of this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/1519472/000164033426001139/solarmax_8k.htm
Any exhibits and associated documents for this SEC filing can be retrieved at: https://www.sec.gov/Archives/edgar/data/1519472/000164033426001139/0001640334-26-001139-index.htm
Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.