Business Context and Reporting Period
This Form 8-K is filed by Tharimmune, Inc. (not Canton Strategic Holdings, Inc.) on April 1, 2025. The filing addresses a regulatory notice received from the Nasdaq Listing Qualifications staff regarding the company's continued listing status on the Nasdaq Capital Market.
Key Financial Metrics
The filing references specific financial data from the company's Annual Report on Form 10-K for the period ended December 31, 2024:
- Stockholders' Equity: $1,307,642
- Nasdaq Minimum Requirement (Rule 5550(b)(1)): $2,500,000
- Revenue, Profit, Cash Flow, Debt: The filing text does not provide clear values for these metrics.
Material Changes and Listing Status
The company received a notice that its stockholders' equity of $1,307,642 fails to meet the Nasdaq Capital Market minimum requirement of $2,500,000. This deficiency is based on the financials reported in the 2024 10-K. The notice has no immediate effect on the company's listing, but it triggers a compliance timeline.
Outlook, Management Commentary, and Risks
Compliance Plan: The company has 45 calendar days from April 1, 2025, to submit a plan to regain compliance. Management intends to submit this plan within the allotted timeframe and is evaluating available options to resolve the deficiency.
Timeline: If the compliance plan is accepted, the company may be granted up to 180 calendar days from April 1, 2025, to evidence compliance.
Risks: Failure to regain compliance could result in delisting from the Nasdaq Capital Market.
Investor Verification Checklist
- Verify the company's current stockholders' equity as of the most recent reporting period.
- Monitor the submission of the compliance plan within the 45-day window (by mid-May 2025).
- Review the specific options management is evaluating to increase equity (e.g., capital raise, asset acquisition).
- Confirm the acceptance of the compliance plan by Nasdaq to secure the potential 180-day extension.