Announcement • Sep 10
The Nasdaq Stock Market Office of the General Counsel Determines to Deny the Request of Hempacco Co. to Continue Listing its Securities on Nasdaq On September 4, 2024, Hempacco Co., Inc. (the ‘Company’) received notice from the Nasdaq Stock Market LLC (‘Nasdaq’) Office of the General Counsel, that it had determined to deny the request of the Company to continue listing its securities on Nasdaq. The Company is in violation of the annual meeting of shareholders requirement in Nasdaq Listing Rule 5620(a), as well as the obligation to file periodic financial reports with the U.S. Securities and Exchange Commission as required under Nasdaq Listing Rule 5250(c)(1). The Company may request that Nasdaq’s Listing and Hearing Review Council review Nasdaq’s decision (the ‘Nasdaq Listing and Hearing Council Review’), and a written request for review must be received within 15 days of the date of Nasdaq’s notice, along with payment of Nasdaq’s fee for such review. The Company has scheduled an annual meeting of the shareholders and is focused on filing its delinquent periodic reports as soon as possible, and the Company therefore intends to request the Nasdaq Listing and Hearing Council Review. However, there can be no assurance that the Company will be able file its delinquent reports and request the Nasdaq Listing and Hearing Council Review within the 15 days to make that review request, or that any such review would result in Nasdaq reversing its delisting decision. The Company’s common stock began trading under the trading symbol “HPCO” on the Expert Market of the OTC Link alternative trading system operated by OTC Markets Group Inc. on or about September 6, 2024. If the Company does not request a Nasdaq Listing and Hearing Council Review, or if such review does not result in Nasdaq reversing its delisting decision, the Company intends to apply to have its common stock quoted on the OTCQB Venture Market of the OTC Link; however, there can be no assurances that its common stock will be approved for quotation, or will continue, to be quoted on such market. Announcement • Sep 07
Hempacco Co., Inc.(OTCPK:HPCO) dropped from NASDAQ Composite Index Hempacco Co., Inc. has been dropped from the NASDAQ Composite Index (^COMP). Announcement • Aug 20
Hempacco Co. Provides Non-Compliance Update On August 14, 2024, Hempacco Co., Inc. (the Company) received a written notice (the Notice) from the Listing Qualifications Department of The Nasdaq Stock Market (Nasdaq) indicating that the Company no longer meets the alternatives of stockholders' equity, market value of listed securities, or net income from continuing operations in Nasdaq's listing rules (since the Company's most recent annual report on Form 10-K reported a stockholder deficit instead of the minimum required stockholder equity), that this matter therefore serves as an additional basis for delisting the Company's securities from the Nasdaq, and that Nasdaq's hearing panel will consider this matter in their decision regarding the Company's continued listing on the Nasdaq. The Nasdaq listing rules (Rule 5550) require the Company to have stockholders' equity of at least $2.5 million, $35 million in market value of listed securities, or $500,000 in net income from continuing operations. The Company intends to present its views with respect to this deficiency to the hearing panel by August 21, 2024. If the Company's common stock ultimately were to be delisted for any reason, it could negatively impact the Company by (i) reducing the liquidity and market price of the Company's common stock; (ii) reducing the number of investors willing to hold or acquire the Company's common stock, which could negatively impact the Company's ability to raise equity financing; (iii) limiting the Company's ability to use a registration statement to offer and sell freely tradable securities, thereby preventing the Company from accessing the public capital markets; and (iv) impairing the Company's ability to provide equity incentives to its employees. Announcement • Aug 15
Hempacco Co., Inc. announced delayed 10-Q filing On 08/14/2024, Hempacco Co., Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Aug 13
Hempacco Co., Inc., Annual General Meeting, Oct 03, 2024 Hempacco Co., Inc., Annual General Meeting, Oct 03, 2024. Announcement • Jul 24
Hempacco Co. Receives Non-Compliance Letter from Nasdaq Regarding Minimum Bid Price Requirement On July 16, 2024, Hempacco Co., Inc. received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market (the “Bid Price Requirement”). The Notice does not result in the immediate delisting of the Company’s common stock from The Nasdaq Capital Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share, and, based upon the closing bid price of the Company’s common stock for the prior 30 consecutive business days (May 30, 2024 to July 15, 2024), the Company no longer met this requirement. The Nasdaq rules provide the Company a compliance period of 180 calendar days from the date of the Notice in which to regain compliance with the Bid Price Requirement. As a result, the date by which the Company has to regain compliance with the Bid Price Requirement is January 13, 2025. If at any time prior to January 13, 2025, the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of ten consecutive business days, the Nasdaq staff (the “Staff”) will provide the Company with a written confirmation of compliance and the matter will be closed. Alternatively, if the Company fails to regain compliance with the Bid Price Requirement prior to the expiration of the initial period, the Company may be eligible for an additional 180 calendar day compliance period, provided (i) it meets the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market (except for the Bid Price Requirement), and (ii) it provides written notice to Nasdaq of its intention to cure this deficiency during the second compliance period by effecting a reverse stock split, if necessary. In the event the Company does not regain compliance with the Bid Price Requirement prior to the expiration of the initial period, and if it appears to the Staff that the Company will not be able to cure the deficiency, or if the Company is not otherwise eligible, the Staff will provide the Company with written notification that its securities are subject to delisting from The Nasdaq Capital Market. At that time, the Company may appeal the delisting determination to a hearings panel. The Company intends to monitor the closing bid price of its common stock and is considering its options to regain compliance with the Bid Price Requirement. The Company’s receipt of the Notice does not affect the Company’s business, operations or reporting requirements with the Securities and Exchange Commission. If the Company's common stock ultimately were to be delisted for any reason, it could negatively impact the Company by (i) reducing the liquidity and market price of the Company's common stock; (ii) reducing the number of investors willing to hold or acquire the Company's common stock, which could negatively impact the Company's ability to raise equity financing; (iii) limiting the Company's ability to use a registration statement to offer and sell freely tradable securities, thereby preventing the Company from accessing the public capital markets; and (iv) impairing the Company's ability to provide equity incentives to its employees. 
