SolarMax faces Nasdaq $35M value listing deficiency

SolarMax Technology, Inc. reported that it received a Nasdaq Capital Market notice on June 22, 2026 for failing to meet the continued listing requirement that its market value of listed securities be at least $35 million.

Accepted by SEC EDGAR 06/30/2026 - 05:00 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

SolarMax Technology, Inc. reported that it received a Nasdaq Capital Market notice on June 22, 2026 for failing to meet the continued listing requirement that its market value of listed securities be at least $35 million. The company has 180 calendar days, until December 21, 2026, to regain compliance by maintaining a market value of listed securities of at least $35 million for a minimum of ten consecutive business days. If SolarMax does not regain compliance by that date, its securities will become subject to delisting. This new notice comes in addition to a previously announced Nasdaq notice that the company failed to maintain the required minimum bid price of $1.00 per share.

Positive

• None.

Negative

• Nasdaq market value deficiency and delisting risk: SolarMax received a Nasdaq notice that its market value of listed securities is below the required $35 million, adding to an existing minimum bid price deficiency and creating a clear timeline toward potential delisting if not cured.

Insights

Equity market structure analyst

SolarMax now faces dual Nasdaq deficiencies and a clear delisting clock.

SolarMax Technology, Inc. has been notified that it no longer satisfies Nasdaq Capital Market Rule 5550(b)(2), which requires a $35 million minimum market value of listed securities. The company has 180 days, until December 21, 2026, to restore compliance by sustaining that level for ten consecutive business days.

This notice is on top of an earlier Nasdaq notice regarding failure to maintain the $1.00 minimum bid price. Having two active listing deficiencies heightens overall listing risk, as resolution now depends both on the share price and aggregate market value improving.

If SolarMax does not regain compliance by December 21, 2026, Nasdaq may move to delist its securities. Any remediation steps, such as capital actions or business developments that affect market value and price, would be important context in future company disclosures.

8-K Event Classification

2 items: 3.01, 9.01

2 items

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities

The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Market value requirement: $35 million Compliance period length: 180 calendar days Compliance deadline: December 21, 2026 +2 more

5 metrics

Market value requirement $35 million Nasdaq Capital Market Rule 5550(b)(2) minimum market value of listed securities

Compliance period length 180 calendar days Period granted to regain compliance with Nasdaq market value requirement

Compliance deadline December 21, 2026 Date by which SolarMax must regain Nasdaq market value compliance

Minimum bid price $1.00 per share Previously announced Nasdaq minimum bid price requirement also not met

Required duration at threshold 10 business days Number of consecutive business days market value must be ≥ $35 million

Key Terms

Nasdaq Capital Market, continued listing requirement, market value of listed securities, minimum bid price, +1 more

5 terms

Nasdaq Capital Market financial

"received a notice from The Nasdaq Stock Market that the Company does not meet the Nasdaq Capital Market continued listing requirement"

The Nasdaq Capital Market is a platform where smaller, emerging companies can list their shares for trading by investors. It provides these companies with access to funding and visibility, helping them grow, much like a local marketplace where new vendors can introduce their products to potential customers. For investors, it offers opportunities to discover early-stage companies with growth potential.

continued listing requirement financial

"does not meet the Nasdaq Capital Market continued listing requirement Rule 5550(b)(2)"

Rules a stock exchange sets that a publicly traded company must follow to keep its shares listed, such as minimum share price, market value, shareholder equity, and timely financial reporting. These rules matter to investors because failing them can lead to removal from the exchange, which can make shares harder to buy or sell and often lowers their value — like a club with membership requirements where losing eligibility restricts access and signals trouble.

market value of listed securities financial

"maintain a minimum market value of listed securities of $35 million"

Market value of listed securities is the market value of the shares a company has listed on an exchange, calculated as the closing bid price multiplied by the number of listed shares. Exchanges use it as a continued-listing standard, so a company that stays under the required minimum receives a deficiency notice and is given a set period to recover before facing delisting.

minimum bid price financial

"previously announced notice from the Nasdaq Stock Market of the failure of the Company to maintain a minimum bid price of $1.00 per share"

The minimum bid price is the lowest share price that a market, regulator, or specific offering will accept for a trade, listing, or auction—think of it as a reserve or floor that a stock must meet to qualify for certain actions. It matters to investors because falling below that floor can limit trading options, trigger compliance measures or delisting risks, and affect liquidity and the perceived value of a holding, much like a reserve price in an auction sets the baseline for a sale.

Emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What Nasdaq rule did SolarMax Technology (SMXT) fail to satisfy?

SolarMax failed to satisfy Nasdaq Capital Market Rule 5550(b)(2), which requires a minimum market value of listed securities of $35 million. Falling below this threshold triggered a formal deficiency notice from Nasdaq and starts a defined compliance period.

How long does SolarMax Technology (SMXT) have to regain Nasdaq compliance?

SolarMax has a 180-calendar-day compliance period that expires on December 21, 2026. To regain compliance, its market value of listed securities must reach at least $35 million for ten consecutive business days before that deadline.

What happens if SolarMax Technology (SMXT) does not regain compliance by December 21, 2026?

If SolarMax does not regain compliance with the $35 million market value requirement by December 21, 2026, Nasdaq will issue written notification that its securities are subject to delisting, which could move trading off the Nasdaq Capital Market.

How is the Nasdaq market value of listed securities calculated for SMXT?

The market value of listed securities is calculated as the most recent total shares outstanding multiplied by the closing bid price. For SolarMax, this figure must be at least $35 million for ten consecutive business days to meet Nasdaq’s standard.

Does SolarMax Technology (SMXT) have any other Nasdaq listing deficiencies?

Yes. The company notes that this new notice is in addition to a previously announced Nasdaq notice that SolarMax failed to maintain the minimum bid price of $1.00 per share, so it is addressing two separate listing deficiencies.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2026 (June 22, 2026)

SolarMax Technology, Inc.

(Exact name of registrant as specified in its charter)

Nevada		001-41959		26-2028786
(State or other jurisdiction of incorporation or organization)		(Commission file number)		(IRS Employer Identification No.)

3080 12th Street

Riverside, California 92507

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (951) 300-0788

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		SMXT		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On June 22, 2026, SolarMax Technology, Inc. (the “Company”) received a notice from The Nasdaq Stock Market that the Company does not meet the Nasdaq Capital Market continued listing requirement Rule 5550(b)(2) that the Company maintain a minimum market value of listed securities of $35 million.  The Nasdaq rule provides that the Company has a compliance period of 180 calendar days to regain compliance.  This period expires on December 21, 2026.  To become compliant, the market value of listed securities, which is the most recent total shares outstanding multiplied by the closing bid price, must be at least $35 million for a minimum of ten consecutive business days.  In the event the Company does not regain compliance with the rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting.

The notice from Nasdaq described in the preceding paragraph is in addition to the previously announced notice from the Nasdaq Stock Market of the failure of the Company to maintain a minimum bid price of $1.00 per share

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SolarMax Technology, Inc.
	By:	/s/ David Hsu
		David Hsu
		Chief  Executive Officer
Dated: June 30, 2026

3

Filing Exhibits & Attachments

5 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 4.9 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 14.3 KB
• EX-101 XBRL TAXONOMY EXTENSION CALCULATION LINKBASE 910 B
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 9.1 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 2.1 KB