Business Context and Reporting Period
Company: Orangekloud Technology Inc.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: May 13, 2025
Context: The filing serves as a Nasdaq Minimum Market Value Compliance Confirmation Letter, addressing a prior delisting notice regarding the Market Value of Listed Securities (MVLS).
Key Financial Metrics
The filing references specific financial data from the Company's annual report for the year ended December 31, 2024, to demonstrate compliance with alternative listing standards:
- Shareholder's Equity: $9,922,464
- Compliance Threshold Met: Alternative minimum of $2.5 million in stockholder's equity
Note: The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity beyond the shareholder's equity figure.
Material Changes and Regulatory Status
Previous Status: On December 13, 2024, the Company received a notice from Nasdaq stating it failed to meet the continued listing requirement of maintaining a minimum MVLS of $35 million (Nasdaq Listing Rules 5550(b)(2)) for the period of October 24, 2024, to December 10, 2024.
Current Status: On May 9, 2025, Nasdaq notified the Company that it now complies with the alternative minimum stockholder's equity requirement. Consequently, the delisting matter is officially closed.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of future risks. The document is strictly a confirmation of regulatory compliance regarding listing standards.
Key Facts for Investor Verification
- Verify the Company's current Market Value of Listed Securities (MVLS) to ensure it remains above the $35 million threshold or continues to meet alternative standards.
- Confirm the accuracy of the $9,922,464 shareholder's equity figure reported in the 2024 annual audit.
- Monitor future Nasdaq communications to ensure no new compliance notices are issued regarding market value or other listing criteria.