Business Context and Reporting Period
This Form 8-K is a Current Report filed by Glucotrack, Inc. on May 15, 2026. The filing addresses critical regulatory developments regarding the company's continued listing on The Nasdaq Capital Market under the trading symbol GCTK.
Key Financial Metrics and Listing Deficiencies
The filing identifies two specific financial thresholds the company failed to meet, triggering delisting proceedings:
- Minimum Bid Price: The company failed to maintain the required minimum bid price of $1.00 per share (Nasdaq Rule 5550(a)(2)).
- Minimum Stockholders' Equity: Based on the Form 10-Q for the period ended March 31, 2026, the company failed to meet the $2,500,000 minimum stockholders' equity requirement (Nasdaq Rule 5550(b)(1)).
- Alternative Compliance: The company does not meet the alternative requirements for market value of listed securities or net income from continuing operations.
Note: This filing does not provide specific values for revenue, profit, cash flow, margins, or debt levels.
Material Changes and Regulatory Actions
On May 11, 2026, Nasdaq notified the company of the bid price deficiency. On May 15, 2026, Nasdaq issued a second notification adding the stockholders' equity deficiency as an additional basis for delisting. The Nasdaq Staff has determined to delist the company's securities from The Nasdaq Capital Market.
Outlook, Management Commentary, and Risks
Management Action Plan:
- The company intends to request a hearing before a Nasdaq Hearings Panel by May 18, 2026.
- A timely hearing request will stay further delisting actions pending the outcome of the hearing.
- Management plans to present its strategy to regain compliance with both the Bid Price Rule and the Minimum Stockholders' Equity Requirement at the hearing.
Risks and Uncertainties:
- There is no assurance the company will be successful in its appeal.
- There is no assurance the Panel will grant continued listing.
- There is no assurance the company can regain or maintain compliance with applicable listing requirements.
Investor Verification Checklist
- Verify the current trading price of GCTK to assess the severity of the bid price deficiency.
- Review the Form 10-Q for the period ended March 31, 2026, to confirm the exact stockholders' equity balance.
- Monitor the status of the hearing request deadline (May 18, 2026) and subsequent Nasdaq Hearings Panel decisions.
- Check for any subsequent filings detailing the specific plan to regain compliance (e.g., reverse stock split, capital raise).