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SolarMax Technology (NASDAQ: SMXT) hit with Nasdaq $35M value deficiency notice

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

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

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.

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 or transferred its listing to a different exchange.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
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
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"
The market value of listed securities is the total worth of stocks, bonds and other tradable instruments quoted on an exchange, measured using the prices investors are willing to pay right now. It’s calculated by multiplying each security’s current market price by the number of units outstanding and adding those amounts together, like totaling the value of every item in a store at today’s prices. Investors watch this because it shows the size, liquidity and overall health of the market or a company’s publicly traded portion, and it influences index weights, fund allocations and perceived risk.
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.
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FAQ

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.

 

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

 

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Other Documents