secwatch.observer — SEC 8-K summary
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Issuer:     Nixxy, Inc. (NIXX)
CIK:        0001462223
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001654954-24-002141
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Recruiter.com gets Nasdaq delisting notice; enters GoLogiq licensing deal to cure equity shortfall
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- Nasdaq issued delisting determination on Feb 16, 2024 for failing to meet $2.5M stockholders' equity requirement; company believes it had $2.5M on that date but Nasdaq concerned about losses.
- Additional basis: no annual meeting within 12 months of fiscal year-end; hearing set for Apr 18, 2024; company plans to file proxy for director election and auditor ratification.
- Entered 10-year exclusive license to GoLogiq's fintech tech (Createapp, Paylogiq, Gologiq, Radix AI), superseding prior stock purchase agreement.
- RCRT to issue shares equaling 19.99% of outstanding (GOLQ owns 16.66% post-issuance) plus 8% royalty on net sales; option to buy technology for $400,000.
- Company estimates license adds ~$3.5M in assets, lifting stockholders' equity substantially above Nasdaq requirement for foreseeable future.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1462223/000165495424002141/0001654954-24-002141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1462223/000165495424002141/rcrt_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-002141

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