Solana Co (HSDT): Nasdaq/NYSE listing notice — Helius Medical receives Nasdaq delisting notice for failing minimum equity requirement

Solana Co

Stockholders' equity fell below $2.5M as of Dec 31, 2023, triggering Nasdaq Listing Rule 5550(b)(1) non-compliance.
Company has 45 days until May 20, 2024 to submit a plan to regain compliance.
If plan accepted, Nasdaq may grant up to 180-day extension from notice date.
No immediate delisting; common stock continues trading under symbol HSDT.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Solana 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)

Exact text from the filing

April 4, 2024, Helius Medical Technologies, Inc. (the “Company”) received written notice from the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company no longer complies with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) for continued listing on The Nasdaq Stock Market LLC because the Company’s stockholders' equity, as reported in the Company’s Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2023, has fallen below $2.5 million. The notice also indicates that the Company does not meet the alternative compliance standards.

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Solana Co filing history →

Source: SEC EDGAR

accession 0001558370-24-004788

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