Fusion Fuel Green PLC's 6-K Report: Navigating Nasdaq Compliance Challenges

Here are the key insights extracted from the financial report (Form 6-K) of Fusion Fuel Green PLC:

1. Filing Information:

• Form Type: 6-K
• Filing Date: January 13, 2025
• Commission File Number: 001-39789

2. Company Overview:

• Name: Fusion Fuel Green PLC
• Address: The Victorians, 15-18 Earlsfort Terrace, Dublin 2, Ireland.

3. Compliance Issues with Nasdaq:

• On May 8, 2024, Fusion Fuel received a Deficiency Notice from Nasdaq, indicating that the Company did not meet the minimum stockholders’ equity requirement of $10 million for continued listing, as their reported stockholders' equity was only $3,022,125.
• The Company was also found non-compliant with alternative standards for continued listing.

4. Response to Deficiency:

• The Company submitted a compliance plan to Nasdaq and requested to transfer its listing to The Nasdaq Capital Market tier by November 4, 2024. However, they failed to consummate required transactions by this deadline.

5. Staff Determination Notice:

• On November 5, 2024, Nasdaq informed the Company that their request for continued listing was denied. If an appeal was not requested by November 12, 2024, trading of the Company’s shares would be suspended on November 14, 2024.

6. Hearing Request:

• The Company filed a hearing request which stayed the suspension and the filing of Form 25-NSE pending the decision.

7. Acquisition Transactions:

• On November 18, 2024, the Company entered into a Stock Purchase Agreement to acquire 69.36% of Quality Industrial Corp. This acquisition will allow the Company to consolidate Quality's financial results into its own.
• The Company is to issue approximately 3.82 million Class A ordinary shares and preferred shares to the sellers.

8. January 2025 Financing Activities:

• On January 10, 2025, the Company entered into a Securities Purchase Agreement for Senior Convertible Notes worth approximately $1.28 million and warrants for Class A shares.
• Additionally, a CEFF Purchase Agreement allows the Company to sell up to $25 million in Class A shares to an investor.

9. Financial Position:

• As of January 10, 2025, the pro forma stockholders' equity is projected to be approximately $12 million due to the completion of the acquisition and financing activities, which helps in compliance with Nasdaq's minimum equity requirement of $2.5 million for continued listing on The Nasdaq Capital Market.

10. Forward-Looking Statements:

• • The report contains forward-looking statements that involve risks and uncertainties, cautioning that actual results may differ significantly from those anticipated.

This summary provides an overview of the critical compliance and financial developments concerning Fusion Fuel Green PLC as reported in their Form 6-K.