Heartbeam, Inc. (BEAT) - 8-K Summary
Business Context and Reporting Period
Heartbeam, Inc., a Delaware corporation, filed this Current Report on Form 8-K on July 2, 2026, regarding an event dated June 30, 2026. The Company is an emerging growth company with its principal executive offices in Santa Clara, California. Its Common Stock (BEAT) and Warrants (BEATW) are listed on the NASDAQ Capital Market.
Key Financial Metrics
This filing is a notice of a listing deficiency and does not contain financial statements. Consequently, the filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The material event reported is the receipt of a deficiency letter from Nasdaq on June 30, 2026. The Company failed to maintain the minimum bid price of $1.00 per share required by Nasdaq Listing Rule 5550(a)(2) for the last 30 consecutive business days. The listing status remains fully effective as of the report date.
Outlook, Risks, and Contingencies
- Compliance Period: The Company has 180 calendar days, until December 28, 2026, to regain compliance.
- Compliance Criteria: To regain compliance, the closing bid price must meet or exceed $1.00 per share for a minimum of ten consecutive business days prior to the deadline.
- Second Compliance Period: If the Company fails to comply by December 28, 2026, it may be granted a second 180-day period, provided it meets all other initial listing standards (excluding the bid price requirement) and the market value of publicly held shares requirement.
- Delisting Risk: If the Company fails to regain compliance within the allotted time, including any extensions, Nasdaq will notify the Company that the Common Stock is subject to delisting. The Company retains the right to appeal such a determination.
- Management Action: Management intends to monitor the stock price and evaluate options to regain compliance, though there is no assurance of success.
Investor Verification Checklist
- Verify the current closing bid price of BEAT to assess proximity to the $1.00 threshold.
- Monitor the Company's stock price for ten consecutive days of trading at or above $1.00 before December 28, 2026.
- Review the Company's market value of publicly held shares to determine eligibility for a second compliance period if the first is missed.
- Check for any subsequent filings regarding reverse stock splits or other corporate actions intended to increase the share price.