Business Context and Reporting Period
This Form 6-K filing by MKDWELL Tech Inc. is dated August 19, 2025, covering the month of August 2025. The Company is a foreign private issuer headquartered in Hsinchu, Taiwan, and files annual reports on Form 20-F. The filing addresses a critical corporate governance matter regarding its continued listing status on The Nasdaq Capital Market.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on regulatory compliance regarding stock price requirements rather than financial performance metrics.
Material Changes and Listing Status
- Initial Non-Compliance: On February 10, 2025, Nasdaq notified the Company that its ordinary shares closed below $1.00 per share for 30 consecutive business days, violating Listing Rule 5450(a)(1).
- First Compliance Period: The Company was granted an initial 180-day period to regain compliance, expiring on August 11, 2025. During this time, the Company transferred its listing to The Nasdaq Capital Market but failed to meet the minimum bid price requirement.
- Extension Granted: On August 13, 2025, Nasdaq granted an additional 180-day compliance period, extending the deadline to February 9, 2026.
- Conditions for Extension: The extension was granted because the Company met all other listing requirements, including the market value of publicly held shares, and submitted a plan to cure the deficiency, potentially via a reverse stock split.
Outlook, Risks, and Management Commentary
Management intends to monitor the closing bid price and may implement a reverse stock split to regain compliance. The Company must maintain a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days to receive written confirmation of compliance, though Nasdaq may require up to 20 days.
Risks and Contingencies:
- There is no assurance the Company will regain compliance within the extended period.
- Failure to comply by February 9, 2026, will result in a notice of delisting.
- The Company retains the right to appeal a delisting determination to a Nasdaq hearings panel, with no guarantee of success.
Key Facts for Investor Verification
- Verify the current closing bid price of MKDWELL Tech Inc. shares to assess proximity to the $1.00 threshold.
- Monitor for any announcements regarding the implementation of a reverse stock split.
- Confirm the Company's market value of publicly held shares to ensure it continues to meet other Nasdaq Capital Market listing standards.
- Track the deadline of February 9, 2026, for the final compliance determination.