Scworx Corp Stock Price, News & Analysis

SCWorx Corp. (Nasdaq: WORX) announced it has received notifications from Nasdaq regarding non-compliance with listing rules due to the delayed filing of its 2020 10-K report. The initial notification was on April 19, followed by another on April 21, 2021, which extended the compliance deadline to May 19, 2021. The company aims to file the 2020 10-K by May 17, 2021, but will submit a compliance plan if it cannot meet this deadline.

SCWorx Corp. (NASDAQ: WORX) has appointed Alton Irby as a new board member, effective immediately. Irby brings extensive experience as an investment banker and has served on McKesson Corporation's board for 17 years, enhancing SCWorx's focus on large hospital groups. This appointment resolves previous compliance issues with Nasdaq concerning audit committee requirements, now deemed compliant following Irby's addition. SCWorx specializes in data management services for healthcare, leveraging machine learning and AI to support healthcare providers.

SCWorx Corp. announced that Marc Schessel is stepping back from his role as CEO to focus on the company's data strategies as a consultant. He will leverage his expertise in healthcare supply chain while Tim Hannibal continues as President and COO. Schessel expressed confidence in Hannibal's leadership and emphasized his continued involvement in the development of SCWorx's core software offerings. The company specializes in advanced data management solutions for healthcare providers, utilizing machine learning and AI to enhance integration and analytics.

SCWorx Corp. (Nasdaq: WORX) announced the appointment of Timothy Hannibal as President, Chief Operating Officer, and Director. Previously the Chief Revenue Officer and Interim CFO, Hannibal will manage day-to-day operations, focusing on financial activities. With nearly 30 years in the SaaS industry, he aims to drive long-term revenue growth. Hannibal has a successful history in both startup and established companies, including founding VaultLogix. CEO Marc Schessel expressed confidence in Hannibal’s ability to maximize profitability and long-term growth.

SCWorx Corp. (Nasdaq: WORX) has signed two significant agreements with not-for-profit Integrated Delivery Networks, totaling approximately $2.5 million over five years. The first contract is with a children’s specialty hospital, and the second involves a large multi-hospital facility with over $5 billion in annual revenues. Both agreements include a one-time setup fee, annual license, and monthly maintenance fees. Notably, one contract can be terminated after two years, reducing its minimum value to about $2.2 million. These partnerships aim to enhance operational efficiency in healthcare amidst ongoing financial pressures.

SCWorx, Corp. (Nasdaq: WORX) has announced that the trading of its common stock will resume on The Nasdaq Stock Market on August 10, 2020. This notification from Nasdaq marks a significant development for the company, which had previously faced trading suspensions. Investors may view this resumption as a positive signal for liquidity and market access, potentially impacting investor confidence.

SCWorx Corp. (Nasdaq: WORX) has been notified by the Nasdaq Stock Market of its non-compliance with listing rules for failing to file its 10-K report for the fiscal year ending December 31, 2019. The notification was received on June 1 and 2, 2020, and requires the company to submit a compliance plan by July 3, 2020. SCWorx plans to file the 2019 10-K by June 12, 2020, which will address the compliance issue.