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

Issuer:     SONIC FOUNDRY INC (—)
CIK:        0001029744
Form:       8-K
Filed at:   2023-07-12T23:59:59+00:00
Accession:  0001437749-23-019789
Event type: regulatory
Sentiment:  negative
Materiality: 0.80
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Sonic Foundry receives Nasdaq delisting notice; plans to appeal
---------------------------------------------------------------

- Nasdaq notified on July 6, 2023 that company failed to regain compliance with $1.00 minimum bid price rule and is ineligible for second grace period.
- Company also failed to meet $2.5M minimum stockholders' equity requirement; deficiency is separate basis for delisting despite extension to July 14, 2023.
- Trading suspension set for July 17, 2023 unless appeal is filed; company intends to appeal by July 13, 2023 to stay delisting pending Hearings Panel decision.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1029744/000143774923019789/0001437749-23-019789-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1029744/000143774923019789/sofo20230711_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-019789

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