SOCKET MOBILE, INC. 8-K

What Happened Socket Mobile, Inc. (SCKT) filed an 8‑K on May 20, 2026 reporting that Nasdaq’s Listing Qualifications Department sent a Deficiency Letter saying the company is not in compliance with Nasdaq Listing Rule 5550(a)(2) because its closing bid price was below $1.00 per share for 30 consecutive business days. Under Nasdaq Listing Rule 5810(c)(3)(A) the company has 180 calendar days — until November 16, 2026 — to regain compliance by having a closing bid of at least $1.00 for a minimum of 10 consecutive business days (Nasdaq may require up to 20 consecutive business days in some cases).

Key Details

• Deficiency cited: Nasdaq Listing Rule 5550(a)(2) — minimum bid price requirement of $1.00.
• Compliance period: 180 days from the notice (until November 16, 2026); must achieve ≥$1.00 close for at least 10 consecutive business days.
• Possible extensions: Nasdaq may require 20 consecutive days or grant an additional up to 180‑day cure period if other listing standards are met and the company notifies Nasdaq.
• Listing status: The Deficiency Letter has no immediate effect; shares will continue trading on the Nasdaq Capital Market under the ticker "SCKT."

Why It Matters If Socket Mobile does not regain compliance, Nasdaq could begin delisting proceedings. Delisting could make the stock harder to trade, reduce liquidity and market quotations, discourage broker‑dealers and institutional investors, and make it more difficult for the company to raise capital — all of which could materially affect the market value and the company’s financial condition. The company said it will monitor the closing bid price and evaluate options to regain compliance, but noted there is no assurance additional time will be granted or that any appeal would succeed.