Nasdaq warns SolarMax (NASDAQ: SMXT) on $1 bid rule, delisting risk ahead

Rhea-AI Filing Summary

SolarMax Technology, Inc. disclosed that it received a notice from Nasdaq on March 3, 2026 stating it no longer meets the continued listing requirement to maintain a minimum bid price of $1 per share under Rule 5550(a)(2). The company has 180 calendar days, until August 31, 2026, to regain compliance by achieving a closing bid of at least $1 for ten consecutive business days. If it fails to do so, SolarMax may seek an additional compliance period by meeting other Nasdaq Capital Market initial listing standards and potentially effecting a reverse stock split. If compliance is still not regained, Nasdaq may move to delist the company’s securities, and a Staff Delisting Determination may also be issued if the closing bid price is $0.10 or less for ten consecutive trading days.

Positive

• None.

Negative

• Nasdaq bid-price deficiency with defined delisting risk: SolarMax received notice that it no longer meets Nasdaq’s $1 minimum bid price rule and faces potential delisting if it cannot regain and sustain compliance within the specified periods.

Insights

Equity markets and listing standards analyst

SolarMax faces Nasdaq bid-price noncompliance with clear delisting risk if unresolved.

SolarMax Technology has fallen below Nasdaq’s $1 minimum bid price requirement, triggering a formal noncompliance notice. It now has a defined 180-day window, through August 31, 2026, to restore its bid above $1 for ten consecutive business days.

If the company cannot meet this threshold, it may still obtain an additional compliance period by satisfying other Nasdaq Capital Market initial listing standards and potentially using a reverse stock split to raise the bid price. These steps are tools, not guarantees; ultimate outcomes depend on market trading levels.

The filing also highlights a stricter trigger: if the closing bid is $0.10 or less for ten straight trading days, Nasdaq staff may issue a Staff Delisting Determination under Rule 5810. Future company communications and subsequent SEC reports will clarify whether SolarMax pursues a reverse split or other actions before the compliance deadlines.

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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): March 10, 2026 (March 3, 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 March 3, 2026, SolarMax Technology, Inc. (the “Company”) received a notice from The Nasdaq Stock Market that the Company does not meet Nasdaq’s continued listing requirement of Rule 5550(a)(2)  that the Company maintain a minimum bid price of $1 per share.  The Nasdaq rules provide that the Company has a compliance period of 180 calendar days to regain compliance.  This period expires on August 31. 2026. To become compliant, the closing bid price of the Company’s common stock must be at least $1 for a minimum of ten consecutive business days. In the event the Company does not regain compliance within such 180 day period, the Company may be eligible for additional time. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears to Nasdaq staff that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company’s securities will be subject to delisting.  If the Company chooses to implement a reverse stock split to increase the bid price of its common stock, which the Company may consider, it must complete the split no later than ten business days prior to the expiration of the applicable compliance period.  In the event the Company does not regain compliance with the rule prior to the expiration of the applicable compliance period, it will receive written notification that its securities are subject to delisting.  The Nasdaq rules also provide that if during any compliance period a company’s security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that security.

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: March 10, 2026

3

FAQ

What Nasdaq rule is SolarMax Technology, Inc. (SMXT) currently not satisfying?

SolarMax is not satisfying Nasdaq Rule 5550(a)(2), which requires a minimum bid price of $1 per share. Nasdaq has formally notified the company of this bid-price deficiency under its continued listing standards.

How long does SolarMax Technology, Inc. (SMXT) have to regain Nasdaq bid-price compliance?

SolarMax has 180 calendar days, until August 31, 2026, to regain compliance. The stock’s closing bid price must be at least $1 for ten consecutive business days during this compliance period.

Can SolarMax Technology, Inc. (SMXT) receive more time from Nasdaq to cure its bid-price deficiency?

SolarMax may be eligible for an additional compliance period if it meets all other initial listing standards for the Nasdaq Capital Market, except bid price, and gives written notice of its intent to cure, potentially through a reverse stock split.

What happens if SolarMax Technology, Inc. (SMXT) does not regain compliance by the deadline?

If SolarMax does not regain compliance by the end of the applicable period, Nasdaq may notify the company that its securities are subject to delisting. The company would then have limited procedural options to respond under Nasdaq rules.

Is SolarMax Technology, Inc. (SMXT) considering a reverse stock split to address Nasdaq requirements?

The company states it may consider implementing a reverse stock split to increase its bid price. Any such split must be completed no later than ten business days before the expiration of the applicable compliance period.

What additional delisting trigger could affect SolarMax Technology, Inc. (SMXT) on Nasdaq?

If SolarMax’s security has a closing bid price of $0.10 or less for ten consecutive trading days, Nasdaq’s Listing Qualifications Department may issue a Staff Delisting Determination under Rule 5810 for that security.

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