Sky Quarry Inc. 8-K

What Happened

• Sky Quarry Inc. announced that Nasdaq's Listing Qualifications Staff had determined to delist its common stock for failing to meet the $1.00 minimum bid price under Nasdaq Listing Rule 5550(a)(2). Nasdaq had notified the company of delisting on March 24, 2026, and planned to suspend trading at the open on March 31, 2026.
• On March 30, 2026, Nasdaq issued a Compliance Notice stating the company has regained compliance with the minimum bid price requirement after the company effected a one-for-eight (1-for-8) reverse stock split that became effective and began trading on a reverse-split adjusted basis on March 16, 2026. The common stock maintained the $1.00 minimum bid price for 10 consecutive business days following the split.

Key Details

• Nasdaq Rule involved: Listing Rule 5550(a)(2) (minimum $1.00 bid price).
• Timeline: Initial deficiency notice received March 28, 2025; first 180-day cure period expired Sept 24, 2025; second 180-day period expired March 23, 2026.
• Corporate action: 1-for-8 reverse stock split effective March 15, 2026 (trading adjusted March 16, 2026).
• Outcome: Nasdaq closed the matter on March 30, 2026 after 10 consecutive business days at or above the $1.00 minimum.

Why It Matters

• Regaining compliance means Sky Quarry’s common stock will remain listed on the Nasdaq Capital Market for now, avoiding an imminent suspension and delisting that was scheduled for March 31, 2026.
• The reverse split reduced the number of outstanding shares (1-for-8), which helped raise the per-share trading price to meet Nasdaq’s $1.00 threshold; this can affect share count, per-share metrics and liquidity.
• Investors should note the procedural relief is tied to maintaining the minimum bid price; future noncompliance could trigger renewed delisting risk.