SCKT 8-K
Socket Mobile, Inc. (SCKT)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On August 24, 2026, Socket Mobile, Inc. (the "Company") received a letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it no longer complies with Nasdaq Listing Rule 5550(b)(1), which requires companies listed on The Nasdaq Capital Market to maintain stockholders' equity of at least $2.5 million (the "Minimum Stockholders' Equity Requirement"). The Notice was based on the Company's stockholders' equity of $2,382,624 reported in its Quarterly Report on Form 10-Q for the period ended June 30, 2026.
The Notice also stated that, as of August 24, 2026, the Company did not satisfy the alternative continued listing standards under Nasdaq Listing Rule 5550(b)(2), which requires a market value of listed securities of at least $35 million, or Nasdaq Listing Rule 5550(b)(3), which requires net income from continuing operations of at least $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years.
Nasdaq has provided the Company with 45 calendar days, or until October 8, 2026, to submit a plan to regain compliance. If Nasdaq accepts the plan, Nasdaq may grant an extension of up to 180 calendar days from the date of the Notice to evidence compliance. If Nasdaq does not accept the plan, the Company may appeal the decision to a Nasdaq Hearings Panel.
The Company intends to timely submit a compliance plan to Nasdaq and is evaluating available actions to regain compliance with the Minimum Stockholders' Equity Requirement. There can be no assurance that Nasdaq will accept the Company's plan, that Nasdaq will grant an extension, or that the Company will regain or maintain compliance with Nasdaq's continued listing requirements.
The Notice has no immediate effect on the listing or trading of the Company's common stock, which will continue to be listed and traded on The Nasdaq Capital Market under the symbol "SCKT".
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SOCKET MOBILE, INC. | |||
| By: | /s/ Lynn Zhao | ||
|
Name: Lynn Zhao Vice President, Finance and Administration and Chief Financial Officer | |||
Date: August 28, 2026