secwatch.observer — SEC 8-K summary
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Issuer:     Zoomcar Holdings, Inc. (ZCAR)
CIK:        0001854275
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001013762-24-001589
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Zoomcar receives Nasdaq delisting notice for MVPHS non-compliance; CEO salary halved
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- Received Nasdaq notice on July 22, 2024 for failing minimum market value of publicly held shares ($15M).
- 180-day compliance period ends Jan 21, 2025; must close at $15M for 10 consecutive days.
- Company also not compliant with minimum bid price ($1) or market value of listed securities ($35M).
- CEO Hiroshi Nishijima's base salary reduced 50% from $350K to $175K, retroactive to June 1, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854275/000101376224001589/0001013762-24-001589-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854275/000101376224001589/ea0210114-8k_zoomcar.htm
  HTML page:      https://secwatch.observer/filing/0001013762-24-001589

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer