---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-030107"
form_type: "8-K"
ticker: "TONX"
cik: "0001566610"
company_name: "TON Strategy Co"
filed_at: "2023-08-24T23:59:59+00:00"
generated_at: "2026-06-11T04:10:59.789243+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Verb Technology receives Nasdaq equity deficiency notice; equity negative $1.8M

## Summary
- Stockholders' equity as of June 30, 2023 was negative $1.818M, below Nasdaq's $2.5M minimum requirement.
- Company must submit a compliance plan by October 2, 2023; Nasdaq may grant up to 180-day extension.
- Annual meeting on Aug 18: directors Cutaia, Geiskopf, Cragun, Moy elected, and Grassi & CO. ratified as auditor.
- Over 43% of shares represented; 1.86M shares voted out of ~4.3M outstanding.

## SEC filing metadata
- accession: 0001493152-23-030107
- form_type: 8-K
- ticker: TONX
- cik: 0001566610
- company_name: TON Strategy Co
- filed_at: 2023-08-24T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.01, 5.07
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566610/000149315223030107/0001493152-23-030107-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566610/000149315223030107/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-030107
- JSON: https://secwatch.observer/filing/0001493152-23-030107.json
- Plain text: https://secwatch.observer/filing/0001493152-23-030107.txt

## Key facts
- Listing & Compliance Notices
  TON Strategy Co received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)(1)
  source text: equity be at least $2,500,000 (the “Stockholders’ Equity Requirement”). As reported in its Form 10-Q, the Company’s stockholders’ equity as of June 30, 2023 was ($1,818,000). The Staff’s notice has no immediate impact on the listing of the Company’s common stock on Nasdaq. In accordance with the Nasdaq Listing Rules, the Company has 45 calendar
  evidence_url: https://www.sec.gov/Archives/edgar/data/1566610/000149315223030107/0001493152-23-030107-index.htm
- Shareholder Votes
  TON Strategy Co shareholders approved Election of Directors at the 2023-08-18 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-08-18
  source text: Election of Directors: Name Total Votes for Director Total Votes Withheld from Director Total Broker Non-Votes Rory J. Cutaia 454,461 119,517 1,288,978 James P. Geiskopf 475,306 98,672 1,288,978 Kenneth S. Cragun 485,225 88,753 1,288,978 Edmund C. Moy 482,629 91,349 1,288,978
  evidence_url: https://www.sec.gov/Archives/edgar/data/1566610/000149315223030107/0001493152-23-030107-index.htm
- Shareholder Votes
  TON Strategy Co shareholders approved Ratification of appointment of Grassi & CO., CPAs, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023 at the 2023-08-18 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-08-18
  source text: Ratification of appointment of Grassi & CO., CPAs, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023: To ratify the selection of Grassi & CO., CPAs, P.C. as the Company’s independent registered public accounting firm. Total Votes For 1,763,578 Against 80,210 Abstain 19,168
  evidence_url: https://www.sec.gov/Archives/edgar/data/1566610/000149315223030107/0001493152-23-030107-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.