Nexalin Tech SEC Filings

Nexalin Technology, Inc. amended its equity distribution agreement with Maxim Group LLC to expand its at-the-market offering capacity. The amendment increases the aggregate offering price from $3,100,000 to up to $10,000,000 under the ATM Program, allowing the company to sell common stock from time to time through the agent.

As of October 15, 2025, approximately $4,273,859 in aggregate amount of shares remained available for sale under the ATM Program. Sales, if any, will be made pursuant to the company’s effective Form S-3 shelf and a new prospectus supplement dated October 15, 2025.

Nexalin Technology, Inc. (NXL) Form 4 shows Director Leonard Osser (with spouse Marilyn Elson) reported a non-derivative acquisition of 83,333 common shares on 09/29/2025 at a recorded price of $0. After the transaction the reporting parties beneficially own 1,618,577 shares, held directly with shared voting and dispositive power between Mr. Osser and Ms. Elson. The filing is a joint ownership Form 4 and is signed by both reporting persons.

Benjamin Hu, a director of Nexalin Technology, Inc. (NXL), reported the acquisition of 36,459 shares on 09/29/2025. The Form 4 shows the transaction as an acquisition (Code A) with a reported price of $0, and that Mr. Hu now beneficially owns 377,095 shares in total. The filing breaks down those holdings as 372,929 shares held individually by Mr. Hu, 3,582 shares held jointly with his spouse Amy Lun Hu, and 584 shares held jointly with his son David D. Hu. The form is signed by Benjamin Hu on 09/30/2025.

Alan Kazden, a director of Nexalin Technology, Inc. (NXL), reported acquiring additional common stock on 09/29/2025. The Form 4 shows he acquired 36,459 shares with a reported price of $0 and, following the transaction, beneficially owns 119,590 shares. The filing states those shares are held indirectly by the Alan and Natalie Kazden Family Trust and that the reporting person has dispositive and voting control.

The submission is a routine Section 16 disclosure of an ownership change and is signed by Alan Kazden on 09/30/2025. No derivatives, option grants, dispositions, or other transaction types are reported on this Form 4.

Nexalin Technology, Inc. reported material operational and governance details showing continued cash consumption alongside recent equity raises and Nasdaq compliance. The company lost $7.8 million from operations in 2024 and generated negative operating cash flow of $3.94 million, though it reported a working capital surplus of approximately $3.4 million. Shares outstanding increased to 13,303,523 from 7,436,562, including issuance of 3,000,000 shares to investors for net proceeds of $4.52 million and multiple share issuances to Wider and consultants for services and R&D.

The filing discloses internal control weaknesses: insufficient segregation of duties in financial reporting and inadequate IT user/superuser access controls. The company invested $96,000 in a joint venture accounted for under the equity method and wrote off a previously defaulted promissory note principal of $500,000. On July 23, 2024 Nasdaq confirmed compliance with the Minimum Stockholder Equity Rule.

Nexalin Technology, Inc. (symbol NXLIW) is the subject of a Form 25 notification filed under the Securities Exchange Act to remove a class of its securities from listing and/or registration on the Nasdaq Stock Market LLC. The filing names the issuer and provides its principal office at 1776 Yorktown, Suite 550, Houston, Texas 77056 and a contact telephone number as listed in the form.

The document duplicates the regulatory checkboxes for rule provisions governing removal and states that Nasdaq certifies it has complied with the applicable procedures to strike or withdraw the class of securities. The form includes the standard OMB approval legend and a note that the Form 25 and attached notice comply with the applicable rules.

Nexalin Technology, Inc. (NXL) filed a Form 144 notice reporting a proposed sale of 23,150 shares of an "Other" class of securities to be executed through Ladenburg Thalmann & Co. Inc. on the NASDAQ with an approximate sale date of 09/10/2025. The filing lists the number of shares outstanding as 1,718,000 and an aggregate market value of 402.81 (as reported). The shares were acquired on 09/16/2022 in an open market purchase from Maxim Group, with payment recorded as cash/check. The filer indicates no securities sold in the past three months and includes the standard representation that the seller is not aware of undisclosed material adverse information.