Business Context and Reporting Period
This Form 8-K was filed by Volcon, Inc., not Empery Digital Inc., and reports events dated October 30–31, 2023. Volcon is a Delaware corporation whose common stock trades on Nasdaq under the symbol VLCN. The filing announces financial results for the three and nine months ended September 30, 2023, but the referenced press release containing those results is not included in the provided text.
Financial Metrics
- Revenue, profit, cash flow, margins, debt, and liquidity: The filing text does not provide clear numerical values.
- The financial results were furnished as Exhibit 99.1 and are expressly not deemed filed for purposes of Section 18 of the Exchange Act, except as otherwise specified.
Material Changes Versus the Prior Comparable Period
The filing does not provide comparative financial figures or quantify changes from the prior comparable periods.
Guidance, Outlook, Risks, Contingencies, and Unusual Items
- On July 6, 2023, Nasdaq notified Volcon that its common stock had traded below the $1.00 minimum bid price requirement for 30 consecutive business days under Nasdaq Listing Rule 5550(a)(2).
- On October 30, 2023, Nasdaq notified the company that it had regained compliance after the stock closed at or above $1.00 per share for 10 consecutive business days from October 16 through October 27, 2023.
- Nasdaq considers the bid-price matter closed, and the company is currently in compliance with the Bid Price Rule.
- No management guidance, forecast, liquidity contingency, or other material operating outlook is provided in the available filing text.
Important Facts to Verify
- Confirm the issuer identity: the provided filing identifies Volcon, Inc., whereas the request metadata identifies Empery Digital Inc.
- Obtain and review Exhibit 99.1 for the actual third-quarter and nine-month 2023 financial results.
- Verify revenue, net income or loss, operating cash flow, cash balance, debt, margins, and year-over-year changes using the complete exhibit or related periodic report.
- Monitor continued Nasdaq compliance, including future bid-price requirements and any other applicable listing standards.