secwatch.observer — SEC 8-K summary
======================================

Issuer:     SCWorx Corp. (WORX)
CIK:        0001674227
Form:       8-K
Filed at:   2024-05-21T23:59:59+00:00
Accession:  0001213900-24-045532
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.01, 4.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

SCWorx receives Nasdaq delisting notice, appoints new auditor, extends debt maturity
--------------------------------------------------------------------------------

- Nasdaq notified SCWorx of non-compliance with Listing Rule 5250(c)(1) due to failure to file 10-Q and 10-K.
- Company dismissed BF Borgers as auditor after SEC order; appointed Astra Audit and Advisory on May 16.
- Promissory note of $330,000 extended to May 24, 2024; $30K original issue discount, 5% interest.
- Arbitration award judgment of ~$502K obtained by vendor; vendor agreed not to enforce until June 3.
- Company expects to file delinquent reports within 60 days but provides no assurance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024045532/0001213900-24-045532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024045532/ea0206622-8k_scworx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-045532

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