secwatch.observer — SEC 8-K summary
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Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2024-08-30T23:59:59+00:00
Accession:  0001493152-24-034617
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Singing Machine receives Nasdaq deficiency notices for bid price and equity
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- Closing bid price below $1.00 for 33 consecutive days; 180-day cure period ends Feb 24, 2025.
- Stockholders' equity of ($872,999) as of June 30, 2024 fails $2.5M minimum; plan due Oct 10, 2024.
- No immediate delisting; if not cured, Nasdaq may grant additional 180-day period or delist.
- Company considering options including reverse stock split to regain compliance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315224034617/0001493152-24-034617-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315224034617/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-034617

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