SEC Filing Summary: Know Labs, Inc. (KNW)
Business Context and Reporting Period
This Form 8-K was filed by Know Labs, Inc. on December 10, 2024. The filing addresses a notice received from NYSE American LLC regarding the Company's compliance with continued listing standards. The Company's common stock trades under the symbol "KNW" on NYSE American.
Key Financial Metrics
The filing references historical financial data to explain the listing deficiency but does not provide current period revenue, profit, or cash flow metrics.
- Stockholders' Equity: As of June 30, 2024, the Company reported a stockholders' deficit of $4.6 million.
- Profitability: The Company has reported losses from continuing operations and/or net losses in each of the five most recent fiscal years ended September 30, 2023.
- Listing Requirements: NYSE American requires stockholders' equity of at least $6.0 million for companies with losses in the five most recent fiscal years.
Material Changes and Events
On December 10, 2024, NYSE American accepted the Company's plan to regain compliance with listing standards. Consequently, the Company was granted a plan period extending through March 27, 2026. This action follows a September 27, 2024 notification that the Company was non-compliant with Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide due to insufficient stockholders' equity.
Outlook, Risks, and Contingencies
The Company's stock will remain listed on NYSE American during the plan period, subject to periodic reviews of progress. However, the filing explicitly states there are no assurances that the Company will make satisfactory progress or regain compliance by the March 27, 2026 deadline. Failure to comply or make sufficient progress may result in the initiation of delisting proceedings. The filing includes standard forward-looking statement disclaimers regarding the uncertainty of achieving compliance.
Investor Verification Checklist
- Verify the specific details of the compliance plan accepted by NYSE American (not detailed in this 8-K).
- Review the Company's latest Form 10-K for detailed risk factors and full financial statements.
- Monitor future periodic reviews by NYSE American to assess progress toward the $6.0 million equity requirement.
- Confirm the current stockholders' equity position as of the most recent quarterly report to gauge the gap to compliance.