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

Issuer:     Netcapital Inc. (NCPL)
CIK:        0001414767
Form:       8-K
Filed at:   2026-10-14T19:50:23+00:00
Accession:  0001493152-26-047004
Event type: regulatory
Sentiment:  neutral
Materiality: 0.55
Item codes: 3.01, 4.01, 4.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Netcapital regains Nasdaq $1.00 bid-price compliance but still faces unfiled 10-K/10-Q and restatement
--------------------------------------------------------------------------------

- Nasdaq closed the Feb 4, 2026 bid-price deficiency after NCPL closed at $1.00 or above for 10 straight business days, Sept 23–Oct 6, 2026.
- Still out of compliance with Nasdaq Rule 5250(c)(1): FY2026 Form 10-K (April 30, 2026) and Q1 10-Q (July 31, 2026) unfiled; compliance plan due Oct 23, 2026.
- Audit Committee engaged Adeptus Partners, LLC on Oct 8, 2026, succeeding Fruci & Associates II, PLLC, which resigned effective Aug 12, 2026.
- Adeptus to audit FY2022–FY2026 statements including the April 30, 2021 opening balance sheet, and review FY2026 interim quarters.
- Previously issued audited FY2022–FY2025 financials remain not to be relied upon; restatement evaluation not yet complete.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1414767/000149315226047004/0001493152-26-047004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1414767/000149315226047004/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-047004

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