Form 8-K - Current report
29 Octobre 2024 - 10:15PM
Edgar (US Regulatory)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 29, 2024 (October 22, 2024)
SolarMax Technology, Inc. |
(Exact name of registrant as specified in its charter) |
Nevada | | 001-41959 | | 26-2028786 |
(State or other jurisdiction of incorporation or organization) | | (Commission file number) | | (IRS Employer Identification No.) |
3080 12th Street
Riverside, California 92507
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (951) 300-0788
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
Common Stock, par value $0.001 per share | | SMXT | | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | | Description |
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.
| SolarMax Technology, Inc. | |
| | | |
| By: | /s/ David Hsu | |
| | David Hsu | |
| | Chief Executive Officer | |
| | | |
Dated: October 29, 2024 | | | |
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