Business Context and Reporting Period
This Form 8-K filing by Sky Quarry Inc. (SKYQ) is dated September 30, 2025, reporting an event that occurred on September 25, 2025. The Company is incorporated in Delaware and its common stock trades on the Nasdaq Capital Market. The filing addresses the Company's status regarding Nasdaq listing requirements.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory compliance regarding stock price rather than operational financial performance.
Material Changes
The primary material change reported is the extension of the Company's compliance period with Nasdaq Listing Rule 5550(a)(2). Previously notified on March 28, 2025, of non-compliance due to a closing bid price below $1.00 per share for 30 consecutive business days, the Company was granted an additional 180-day period to regain compliance. This new deadline extends to March 23, 2026.
Outlook, Risks, and Management Commentary
- Compliance Requirement: To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days before March 23, 2026.
- Delisting Risk: If the Company fails to meet the Minimum Bid Price Requirement by the new deadline, Nasdaq will notify the Company that its common stock will be delisted.
- Appeal Process: In the event of a delisting notification, the Company retains the right to appeal the determination to a Hearings Panel.
- Management Action: Management intends to actively monitor the stock price and may consider available options to cure the deficiency.
Investor Verification Checklist
- Verify the current closing bid price of SKYQ common stock relative to the $1.00 threshold.
- Confirm the Company's specific plan or strategy to increase the share price before March 23, 2026.
- Monitor future filings for any updates on the stock price or potential reverse stock splits.
- Review the Company's market value of publicly held shares to ensure continued compliance with other Nasdaq listing standards.