{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-23-001282","form_type":"8-K","ticker":"EDUC","cik":"0000031667","company_name":"EDUCATIONAL DEVELOPMENT CORP","filed_at":"2023-12-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.626582+00:00","generated_at":"2026-06-07T16:33:23.641951+00:00","sec_items":["3.01"],"event_type":"regulatory","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Educational Development receives Nasdaq deficiency notices for bid price and board independence","bullets":["Bid price below $1.00 from Oct 23 to Dec 3, 2023; 180-day cure period granted.","Second deficiency: lack of majority independent directors and audit committee; cure by Nov 10, 2024 or May 8, 2024.","No immediate delisting; shares continue trading on Nasdaq under EDUC.","Company engaged with Nasdaq and developing plans to regain compliance."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-23-001282","json":"https://secwatch.observer/filing/0001185185-23-001282.json","markdown":"https://secwatch.observer/filing/0001185185-23-001282.md","text":"https://secwatch.observer/filing/0001185185-23-001282.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001282/0001185185-23-001282-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001282/edc20231206_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T16:33:23.641951+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"402361c0c159909ba7f5ff76405e8ed1bce35afd","claim":"EDUCATIONAL DEVELOPMENT CORP received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(A)(i)).","evidence_excerpt":"December 5, 2023, Educational Development Corporation (the “ Company ”) received a deficiency letter (the “1 st Deficiency Letter ”) from NASDAQ Regulation (the “ NASDAQ ”) indicating that the Company is not in compliance with the NASDAQ continued Listing Rules (“Rules”) set forth in Section 5450(A)(i) because its shares of common stock, par value $0.20 per share (the “ Common Stock ”), have been selling below $1.00 per share during the period between October 23,2023 and December 3, 2023. However, as also indicated in the 1 st Deficiency Letter, the Rules provide the Company a compliance perio","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001282/0001185185-23-001282-index.htm","confidence":0.9,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"minimum bid price"},{"label":"Rules","value":"5450(A)(i)"}],"fact_type":"exchange_compliance_notice"},{"claim_id":"9abd570c46d037fc4ba0647e2bfe064b7623f22e","claim":"EDUCATIONAL DEVELOPMENT CORP received a nasdaq deficiency notice notice regarding board independence (rules 5605).","evidence_excerpt":"December 5, 2023, Educational Development Corporation (the “ Company ”) received a deficiency letter (the “1 st Deficiency Letter ”) from NASDAQ Regulation (the “ NASDAQ ”) indicating that the Company is not in compliance with the NASDAQ continued Listing Rules (“Rules”) set forth in Section 5450(A)(i) because its shares of common stock, par value $0.20 per share (the “ Common Stock ”), have been selling below $1.00 per share during the period between October 23,2023 and December 3, 2023. However, as also indicated in the 1 st Deficiency Letter, the Rules provide the Company a compliance perio","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001282/0001185185-23-001282-index.htm","confidence":0.9,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"board independence"},{"label":"Rules","value":"5605"}],"fact_type":"exchange_compliance_notice"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}