Sharps Technology Inc. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On April 3, 2025, Sharps Technology Inc. (the “Company”), was notified by the staff (the “Staff”) of The Nasdaq Stock Market, LLC (“Nasdaq”) that it was not in compliance with the $2,500,000 stockholders’ equity requirement for continued listing (the “Rule’) on The Nasdaq Capital Market. As reported in our Form 10-K for the fiscal year ended December 31, 2024, we reported stockholders’ equity of $1,996,129, and as of today, the Company does not meet the alternatives of market value of listed securities or net income from continuing operations.
As the Company is already in the hearings process due to non-compliance with the minimum bid price requirement as previously reported in the Form 8-K filed on March 14, 2025, this will be treated as an additional and separate basis for delisting. The Company will present its views and its plans to regain compliance with respect to this additional deficiency at its Nasdaq hearing.
There can be no assurance that the Company will be able to evidence compliance with the stockholders’ equity Rule or any other applicable requirements for continued listing on The Nasdaq Capital Market prior to the hearing. In the interim, the Company’s common stock and warrants will remain listed on Nasdaq under its existing symbols, “STSS” and “STSSW” while it awaits the hearing and Panel decision.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 4, 2025
| SHARPS TECHNOLOGY, INC. | |
| /s/ Andrew Crescenzo | |
| Andrew Crescenzo | |
| Chief Financial Officer |