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)

 

 

2

 

 

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

 

 

 

 

3

   

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Oct. 22, 2024
Cover [Abstract]  
Entity Registrant Name SolarMax Technology, Inc.
Entity Central Index Key 0001519472
Document Type 8-K
Amendment Flag false
Entity Emerging Growth Company true
Document Period End Date Oct. 22, 2024
Entity Ex Transition Period false
Entity File Number 001-41959
Entity Incorporation State Country Code NV
Entity Tax Identification Number 26-2028786
Entity Address Address Line 1 3080 12th Street
Entity Address City Or Town Riverside
Entity Address State Or Province CA
Entity Address Postal Zip Code 92507
City Area Code 951
Local Phone Number 300-0788
Security 12b Title Common Stock, par value $0.001 per share
Trading Symbol SMXT
Security Exchange Name NASDAQ
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false

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