LogicMark, Inc. Common Stock to Commence Trading on OTC Markets as the Company Continues Advancing Growth Initiatives

Rhea-AI Summary

LogicMark (LGMK), a provider of personal emergency response systems and health communication devices, announced its transition from Nasdaq to OTC Markets trading due to non-compliance with Nasdaq's $1.00 minimum bid price requirement. Despite the delisting, CEO Chia-Lin Simmons highlighted the company's strong financial position with $15 million in cash and short-term investments as of Q1, emphasizing their ability to maintain access to public capital markets. The company will continue as a reporting entity under the Securities Exchange Act of 1934, maintaining transparency through financial and operational disclosures while evaluating various OTC Market tiers and a potential future return to a national exchange.

Positive

• Strong cash position with $15 million in cash and short-term investments reported in Q1
• Successful capital-raising efforts completed this year
• Maintains access to public capital markets through OTC trading
• Company remains a reporting entity with continued financial disclosure obligations

Negative

• Delisted from Nasdaq due to non-compliance with $1.00 minimum bid price requirement
• Moving to less prestigious OTC Markets may reduce stock visibility and liquidity
• Stock price decline indicated by failure to maintain $1 minimum requirement
• Potential difficulty returning to national exchange without significant stock price improvement

LOUISVILLE, Ky., June 02, 2025 (GLOBE NEWSWIRE) -- LogicMark, Inc. (the “Company”), a provider of personal emergency response systems (“PERS”), health communication devices, and technology for the growing care economy, today announced that it expects that its common stock will begin trading on the over-the-counter markets (“OTC Markets”), effective today. The move to OTC Markets follows Nasdaq’s decision to delist the Company’s common stock at the opening of trading today, due solely to the Company’s non-compliance with Nasdaq’s $1.00 minimum bid price requirement.

Chia-Lin Simmons, CEO of LogicMark, emphasized the importance of this transition, stating, “The ability to continue quotation of our common stock on the OTC Markets allows us to maintain access to public capital while continuing to focus on strengthening operational execution and preserving resources for long-term growth. Due to our successful capital-raising efforts this year, we reported $15 million in cash and short-term investments at the end of the first quarter, providing further runway to advance our strategic priorities. Our team is fully committed to compliance with applicable reporting obligations and delivering value to our shareholders, whom we thank for their continued support.”

The Company will continue to evaluate the various market tiers available within OTC Markets, as well as a possible return to a national exchange in the future. Investors are encouraged to visit the Company’s website and EDGAR page on sec.gov. The Company will remain a reporting entity subject to the Securities Exchange Act of 1934 with respect to continued disclosure of financial and operational information.

About LogicMark, Inc.
LogicMark, Inc. (OTC: LGMK) is on a mission to enable people of all ages to lead lives with dignity, independence, and the joy of possibility. LogicMark provides PERS, health communications devices, personal safety apps, services, and technologies to create a Connected Care Platform.

LogicMark is dedicated to building a ‘Care Village’ with proprietary technology and creating innovative solutions for the care economy. A team of leading technologists with a deep understanding of IoT, AI, and machine learning is passionately focused on understanding consumer needs. The Company’s PERS technologies are sold through the United States Veterans Health Administration, dealers, distributors, and directly to consumers. LogicMark has been awarded a contract by the U.S. General Services Administration that enables the Company to distribute its products to federal, state, and local governments. To learn more, visit www.investors.logicmark.com and www.logicmark.com.

Cautionary Statement Regarding Forward-Looking Statements 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to, among other things, the Company’s ability to list its common stock on a national exchange and the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long-range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the SEC. There can be no assurance that a broker will continue to make a market in the Company’s common stock or that trading of the common stock will continue on an over-the-counter market or elsewhere. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may differ materially from those described in this press release as intended, planned, anticipated, believed, estimated, or expected. Any forward-looking statement made by us in this press release is based on information currently available to us and speaks only as of the date on which it is made. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances, or assumptions underlying such statements, or otherwise.

Investor Relations Contact: investors@logicmark.com

FAQ

Why was LogicMark (LGMK) delisted from Nasdaq?

LogicMark was delisted from Nasdaq due to non-compliance with the exchange's $1.00 minimum bid price requirement, effective June 2, 2025.

What is LogicMark's (LGMK) current financial position?

As of the end of Q1 2025, LogicMark reported $15 million in cash and short-term investments, following successful capital-raising efforts.

Where will LogicMark (LGMK) stock trade after Nasdaq delisting?

LogicMark stock will trade on the OTC Markets following its Nasdaq delisting on June 2, 2025.

Will LogicMark (LGMK) continue to report financial information after moving to OTC?

Yes, LogicMark will remain a reporting entity under the Securities Exchange Act of 1934, continuing to disclose financial and operational information.

Can LogicMark (LGMK) return to Nasdaq in the future?

Yes, the company is evaluating various OTC Market tiers and the possibility of returning to a national exchange in the future, though this would require meeting listing requirements including minimum bid price.