Business Context and Reporting Period
Company: Recon Technology, Ltd
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: May 6, 2026
Context: The filing notifies investors of a Nasdaq Capital Market compliance issue regarding the minimum closing bid price for the company's Class A Ordinary Shares.
Key Financial Metrics
This filing is a current report regarding regulatory compliance and does not contain financial statements. The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The material change reported is the receipt of a notification from Nasdaq on May 4, 2026, stating that the closing bid price per share fell below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2).
Outlook, Risks, and Contingencies
- Compliance Period: The company has 180 calendar days (until November 2, 2026) to regain compliance by maintaining a closing bid price of at least $1.00 for 10 consecutive business days.
- Trading Status: Shares will continue to trade uninterrupted under the symbol "RCON" during this period; immediate delisting is not in effect.
- Contingency Plan: If compliance is not met by November 2, 2026, the company may be eligible for an additional 180-day grace period. This requires meeting market value and other listing standards and may necessitate a reverse stock split.
- Risk: Failure to regain compliance or qualify for a grace period could result in delisting.
Investor Verification Checklist
- Verify the current closing bid price of RCON shares to assess progress toward the $1.00 threshold.
- Monitor for any announcements regarding a potential reverse stock split before the November 2, 2026 deadline.
- Review the company's market value of publicly held shares to ensure eligibility for a potential second compliance period.
- Check for subsequent press releases or filings confirming Nasdaq's written confirmation of compliance.