Business Context and Reporting Period
Cycurion, Inc. is identified in the request metadata, but the filing names Western Acquisition Ventures Corp. as the registrant. This Form 8-K reports an event occurring on February 6, 2024, and was signed on February 12, 2024.
Material Event
Western Acquisition Ventures received a notification from Nasdaq that it no longer met the minimum requirement of 500,000 publicly held shares for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(4).
- The notification had no immediate effect on the listing of the company’s common stock.
- The company had 45 calendar days, until March 22, 2024, to submit a specific compliance plan to Nasdaq.
- If Nasdaq rejected the plan, the company could appeal to a Nasdaq Hearings Panel.
- Management stated that it was evaluating various actions to achieve and sustain compliance.
Financial Metrics and Liquidity
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, guidance, or other financial performance metrics.
Outlook, Risks, and Unusual Items
The principal disclosed risk is potential loss of Nasdaq listing if the company cannot satisfy the minimum publicly held shares requirement or obtain an acceptable remediation outcome. The filing does not specify the number of publicly held shares, the proposed remediation actions, or the potential consequences for shareholders beyond the stated Nasdaq procedures.
Investor Verification Checklist
- Verify the registrant’s identity and whether this filing is applicable to Cycurion, Inc. or Western Acquisition Ventures Corp.
- Verify the company’s publicly held share count and the basis for Nasdaq’s determination.
- Check whether a compliance plan was submitted by March 22, 2024, and whether Nasdaq accepted it.
- Check for any subsequent Nasdaq delisting notice, hearing request, appeal, or change in listing status.
- Review subsequent filings for corporate actions intended to restore compliance.