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SolarMax (Nasdaq: SMXT) gets warning as clock starts on listing

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

Rhea-AI Filing Summary

SolarMax Technology, Inc. (SMXT) reported that Nasdaq notified the company on August 20, 2026 that it is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not filed its Form 10-Q for the quarter ended June 30, 2026. Under Nasdaq rules, SolarMax has 60 calendar days, until October 19, 2026, to submit a plan to regain compliance. If Nasdaq accepts this plan, it may grant an exception of up to 180 days from the Form 10-Q due date, potentially extending the cure period to February 16, 2027. The disclosure emphasizes that the continued listing of the company’s common stock on Nasdaq is a key risk factor.

Positive

  • None.

Negative

  • Nasdaq non-compliance notice: SolarMax failed to file its Form 10-Q for the quarter ended June 30, 2026, leading Nasdaq to determine the company is not in compliance with Listing Rule 5250(c)(1), creating a risk to the continued listing of its common stock.
Quarter covered by missing Form 10-Q Quarter ended June 30, 2026 Period for which the Form 10-Q was not filed
Plan submission deadline October 19, 2026 60 calendar days from August 20, 2026 to submit a plan to Nasdaq
Maximum Nasdaq exception period 180 days from the filing’s due date, to February 16, 2027 Potential extension if Nasdaq accepts the company’s plan
Listing Rule 5250(c)(1) regulatory
"does not meet requirements for the continued listing ... pursuant to Listing Rule 5250(c)(1)"
A Nasdaq listing standard that requires companies traded on the exchange to file their regular financial reports with the U.S. Securities and Exchange Commission on time, such as annual and quarterly reports, and to notify Nasdaq if filings are late. It matters to investors because these filings provide the routine, reliable information needed to judge a company’s health; missing them can trigger warnings, trading suspension, or removal from the exchange, which can sharply affect liquidity and share value — like a business losing its operating license for failing inspections.
Form 10-Q regulatory
"because it has failed to file its Form 10-Q for the quarter ended"
A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
EPC projects technical
"expanded its United States operations to include services for industrial EPC projects"

FAQ

Why did SolarMax Technology (SMXT) receive a Nasdaq notice?
Nasdaq notified SolarMax Technology that it is not in compliance with Listing Rule 5250(c)(1) because the company failed to file its Form 10-Q for the quarter ended June 30, 2026, which is required for continued listing of its common stock.

What deadline does SolarMax (SMXT) have to regain Nasdaq compliance?
SolarMax has 60 calendar days from August 20, 2026, or until October 19, 2026, to submit a plan to Nasdaq to regain compliance with the periodic reporting requirements related to its delayed Form 10-Q filing.

How long an extension could Nasdaq grant SolarMax (SMXT)?
If Nasdaq accepts SolarMax’s compliance plan, it may grant an exception of up to 180 days from the Form 10-Q due date, which would extend the deadline to February 16, 2027 for the company to regain compliance.

Which filing is SolarMax (SMXT) missing that caused the Nasdaq issue?
The non-compliance stems from SolarMax’s failure to file its Form 10-Q for the quarter ended June 30, 2026, a required periodic report under SEC rules and Nasdaq’s continued listing standards.

What business does SolarMax Technology (SMXT) operate in?
SolarMax Technology is an integrated solar and renewable energy company based in California, with a strong presence in southern California and expanded U.S. operations including industrial EPC projects, commercial solar development, and residential solar services.

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EXHIBIT 99.1

 

SolarMax Technology Receives Nasdaq Notice Regarding Delayed Form 10-Q Filing

 

RIVERSIDE, CA – August 21, 2026 (GLOBE NEWSWIRE) – SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, today announced that it received a notice from The Nasdaq Stock Market (“Nasdaq”) on August 20, 2026, that the Company does not meet requirements for the continued listing of its common stock on Nasdaq pursuant to Listing Rule 5250(c)(1) because it has failed to file its Form 10-Q for the quarter ended June 30, 2026. Under the Nasdaq rules, the Company has 60 calendar days from August 20, 2026, which is October 19, 2026, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, Nasdaq can grant an exception of up to 180 days from the filing’s due date, which would be February 16, 2027.

 

About SolarMax Technology Inc.

 

SolarMax, based in California and founded in 2008, is a leader within the solar and renewable energy sector focused on making sustainable energy both accessible and affordable. SolarMax has established a strong presence in southern California and, commencing in the third quarter of 2025, expanded its United States operations to include services for industrial EPC projects. SolarMax is looking to generate growth with strategic initiatives that aim to scale commercial solar development services and provide EPC services for industrial projects and LED lighting solutions in the US while expanding its residential solar operations. For more information, visit www.solarmaxtech.com.

 

Any information contained on, or that can be accessed through, our website or any other website or any social media is not a part of this press release.

 

Forward Looking Statements

 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to, the continued listing of the common stock on Nasdaq and those factors described in “Cautionary Note on Forward-Looking Statements” “Item 1A. Risk Factors,” and “Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on April 6, 2026 and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” in the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2026, which was filed with the SEC on May 15, 2026.  SolarMax undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

 

Contact:

For more information, contact:

Stephen Brown, CFO

(951) 300-0711

 

Source: View Original Filing on SEC EDGAR

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