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MKDWELL Tech Inc. Faces Nasdaq Deficiency Notice: Urgent Compliance Needed!

$MKDWW
Form 6-K
Filed on: 2024-11-15
Source
MKDWELL Tech Inc. Faces Nasdaq Deficiency Notice: Urgent Compliance Needed!

Key Information from MKDWELL Tech Inc. SEC 6-K Filing:

  1. Company Overview:
  • Name: MKDWELL Tech Inc.
  • Location: 1F, No. 6-2, Duxing Road, Hsinchu Science Park, Hsinchu City 300, Taiwan.
  • Filing Date: November 15, 2024.
  • Commission File Number: 001-42197.
  1. Notice of Deficiency:
  • On November 14, 2024, MKDWELL Tech Inc. received a deficiency notice from Nasdaq due to its Market Value of Publicly Held Shares (MVPHS) falling below the minimum requirement of $15 million.
  • This deficiency was noted for the period from October 3, 2024, to November 13, 2024.
  1. Current Status:
  • The deficiency notice does not immediately affect the trading status of MKDWELL’s common stock, which will continue to trade under the symbol "MKDW".
  1. Compliance Period:
  • The company has 180 days from the date of the notice (until May 13, 2025) to regain compliance with the MVPHS requirement.
  • To comply, MKDW must achieve an MVPHS of $15 million or more for at least ten consecutive business days during the compliance period.
  1. Potential Outcomes:
  • If MKDW regains compliance within the specified period, the matter will be closed with written confirmation from Nasdaq.
  • If compliance is not achieved by the deadline, Nasdaq will provide a written notice regarding delisting, which the company can appeal.
  • Alternatively, the company may consider applying for a transfer to the Nasdaq Capital Market, which has different listing requirements.
  1. Company's Intentions:
  • MKDWELL intends to actively monitor its MVPHS and take reasonable measures to regain compliance with the Nasdaq listing standards, although it cannot guarantee successful compliance.

Conclusion: The notice of deficiency presents a significant risk for MKDWELL Tech Inc., as failure to comply with Nasdaq's requirements could lead to delisting. The company is currently focused on regaining compliance within the stipulated timeframe.