Anuncio • Apr 30
Global Star Acquisition, Inc. announced that it expects to receive $0.42 million in funding Global Star Acquisition, Inc. announced a private placement that it will issue an aggregate of 42,000 units to the Sponsor, at a price of $10 per unit for the gross proceeds of up to $420,000 on April 30, 2025. Anuncio • Apr 01
Global Star Acquisition, Inc. announced delayed annual 10-K filing On 03/31/2025, Global Star Acquisition, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Anuncio • Mar 15
Global Star Acquisition Receives Delisting Notice from Nasdaq As previously disclosed, on January 31, 2025, Global Star Acquisition, Inc. (the Company") received a written notice from the Listing Qualifications Staff (the Staff") of The Nasdaq Stock Market LLC (Nasdaq") indicating that the Company securities would be delisted for failing to comply with the 400 total holders requirement under Listing Rule 5450(a)(2) and the minimum 1,100,000 publicly held shares under Listing Rule 5450(b)(2)(A). Further, as announced by the Company, on February 7, 2025, the Company requested a hearing. On March 11, 2025, the Company advised the Nasdaq Hearings Panel that the Company was withdrawing its appeal of the January 31, 2025 delist determination issued by the Staff in this matter. On March 12, 2025, the Company received written notification (the Delisting Notice") from Nasdaq that trading in the Company's securities will be suspended at the open of trading on March 14, 2025. Anuncio • Mar 14
Global Star Acquisition, Inc.(OTCPK:GLST) dropped from NASDAQ Composite Index Global Star Acquisition, Inc has been dropped from the NASDAQ Composite Index. Anuncio • Mar 12
Nasdaq Determines to Suspend Trading in Global Star Acquisition Securities Due to Non-Compliance As previously disclosed, on January 31, 2025, Global Star Acquisition, Inc. (the Company") received written notice from the Listing Qualifications Staff (the Staff") of The Nasdaq Stock Market, LLC (Nasdaq") indicating that the Company securities would be delisted for failing to comply with the 400 total holders requirement under Listing Rule 5450(a)(2) and the minimum 1,100,000 publicly held shares under Listing Rule 5450(b)(2)(A). Further, as announced by the Company, on February 7, 2025, the Company requested a hearing. On February 19, 2025, the Company received a written notice from the Staff that its failure to comply with the minimum $50,000,000 Market Value of Listed Securities requirement under Listing Rule 5450(b)(2)(A) (the MVLS Rule") served as an additional and separate basis for delisting. On March 7, 2025, the Staff notified the Company that it failed multiple continued listing requirements by significant margins. Additionally, Staff notified the Company that pursuant to its discretionary authority under Listing Rules 5101,1 and IM-5101-12, Nasdaq determined to suspend trading in the Company's securities in order to maintain the quality of and public confidence in the Nasdaq market, to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and to protect investors and the public interest. As previously disclosed, on December 18, 2024, Staff notified the Company that it did not comply with the minimum $15,000,000 Market Value of Publicly Held Shares (MVPHS) under Listing Rule 5450(b)(2)(C). The Company was provided until June 17, 2025 to regain compliance. The Staff notified the Company that the Nasdaq Hearings Panel will consider this matter in rendering a determination regarding the Company's continued listing on The Nasdaq Global Market. Anuncio • Feb 25
Global Star Acquisition, Inc. Provides Nasdaq Non-Compliance Update As previously disclosed, on August 19, 2024, the Global Star Acquisition Inc. (the Company") received a letter (the MVLS Deficiency Notice") from the listing qualifications department staff (the Staff") of The Nasdaq Stock Market (Nasdaq") notifying the Company that from July 5, 2024 to August 14, 2024, the Company's Market Value of Listed Securities (MVLS") was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the MVLS Requirement"). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company had 180 calendar days from the date of the MVLS Deficiency Notice, or until February 17, 2025 (the Compliance Date"), to regain compliance with respect to the MVLS Requirement. The MVLS Deficiency Notice stated that to regain compliance with the MVLS Requirement, the Company's MVLS must close at $50 million or more for a minimum of ten consecutive business days during the compliance period ending on the Compliance Date. On February 19, 2025, the Company received a notice from the Staff that the Company did not comply with the MVLS Requirement by the Compliance Date, and that the matter will serve as an additional basis for delisting the Company's securities from Nasdaq. The Company was also notified that it does not meet the continued listing requirements under Listing Rule 5450(b)(1) (the Equity Standard") or Listing Rule 5450(b)(3) (the Total Assets/Total Revenue Standard") requirements. Pursuant to Listing Rule 5810(d), the Company will present its views to the Hearings Panel (the Panel") at a hearing scheduled for March 11, 2025, regarding the Company's previously disclosed lack of compliance with Listing Rule 5450(b)(2)(B) and Listing Rule 5450(a)(2) (the Hearing") with respect to the additional deficiency under the MVLS Requirement. Although the Company will use all reasonable efforts to regain compliance with the each of the above rules, there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq listing criteria. Anuncio • Feb 15
Global Star Acquisition Submits an Appeal to Nasdaq Requesting A Hearing Before the Hearings Panel As previously disclosed, on January 31, 2025, the Company received a delist determination letter from Nasdaq advising the Company that Nasdaq had determined that the Company did not meet the terms of the extension. On February 7, 2025, Global Star Acquisition, Inc. submitted an appeal to Nasdaq requesting a hearing before the Hearings Panel (the Panel"), pursuant to the procedures set in the 5800 Series of the Rules. The Company intends to present to the Panel its plan to regain and thereafter maintain compliance with all applicable listing requirements. The hearing request stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. In connection with the hearing request, the Company submitted the payment of a fee in the amount of $20,000.00 payable to Nasdaq. Although the Company will use all reasonable efforts to regain compliance with the Rule, there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq listing criteria. Anuncio • Feb 06
Global Star Acquisition Receives Nasdaq Delisting Determination Letter As previously disclosed, on November 25, 2024, Global Star Acquisition Inc. (the Company") received a letter from the listing qualifications department staff (the Staff") of The Nasdaq Stock Market (Nasdaq") indicating that the Company was not in compliance with Nasdaq's Listing Rule 5450(b)(2)(B) because the Company had not, as of November 18, 2024, maintained a minimum of 1,100,000 publicly held shares, as required under the Nasdaq continued listing standards for The Nasdaq Global Market. Under Nasdaq Listing Rules, the Company had 45 calendar days or until January 9, 2025, to submit a plan to regain compliance with Rule 5450(b)(2)(B). Separately, on August 1, 2024, we received a notice from the Staff notifying us that the Company is not in compliance with Listing Rule 5450(a)(2) (the Minimum Public Holders Rule"), which requires the Company to have at least 400 total holders for continued listing on The Nasdaq Global Market. We submitted the plan to regain compliance in a timely manner, and Nasdaq advised the Company that it had determined to grant the Company an extension until January 28, 2025, to regain compliance with the Rule. The Company was unable to regain compliance with the Rule prior to the end of the plan period (January 28, 2025). As a result, on January 31, 2025, the Company received a delist determination letter from Nasdaq advising the Company that Nasdaq had determined that the Company did not meet the terms of the extension. As a result, unless the Company requests an appeal of Nasdaq's determination, trading of the Company's common stock will be suspended at the opening of business on February 11, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's common stock from listing and registration on Nasdaq. The Company may submit a hearing request to the Nasdaq Hearings Panel (the Panel"), which request is expected to stay any delisting action by Nasdaq at least until the hearing process concludes and any extension granted by the Panel expires. Notwithstanding the foregoing, there can be no assurance that the Panel will grant the Company's request or an additional extension period, or that the Company will ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Capital Market. Anuncio • Nov 28
Global Star Receives Nasdaq Notification of Non-Compliance with Listing Rule 5450(b)(2)(B) On November 25, 2024, Global Star Acquisition Inc. received a letter from the listing qualifications department staff (the Staff") of The Nasdaq Stock Market (Nasdaq") indicating that the Company was not in compliance with Nasdaq's Listing Rule 5450(b)(2)(B) because the Company has not, as of November 18, 2024, maintained a minimum of 1,100,000 publicly held shares, as required under the Nasdaq continued listing standards for The Nasdaq Global Market. Under Nasdaq Listing Rules, the Company has 45 calendar days or until January 9, 2025 to submit a plan to regain compliance with Rule 5450(b)(2)(B). If the Staff accepts the plan, the Staff may grant the Company an extension up to 180 calendar days from November 25, 2024 or until May 24, 2025 to regain compliance . The Company expects that the deficiency will be cured as a result of the consummation of its previously announced proposed business combination with K Enter Holdings Inc., a Delaware corporation (K Enter") (the Business Combination") as described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC") on June 22, 2023. The Company intends to submit a plan of compliance to Nasdaq on or before January 9, 2025, where it will request an extension of the compliance period to regain compliance with Rule 5450(b)(2)(B) from 45 calendar days to 180 calendar days. If the plan is not accepted by the Staff, the Company may appeal that decision to a Hearings Panel in accordance with Rule 5815(a). However, there can be no assurance that such appeal would be successful. Anuncio • Aug 23
Global Star Acquisition Receives a Letter from the Listing Qualifications Department Staff of the Nasdaq Stock Market On August 19, 2024, Global Star Acquisition Inc. received a letter from the listing qualifications department staff of The Nasdaq Stock Market (“Nasdaq”) notifying the Company that from July 5, 2024 to August 14, 2024, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A). The MVLS Deficiency Notice has no immediate effect on the listing of the Company’s common stock, and the Company’s common stock continues to trade on the Nasdaq Global Market under the symbol “GLST.” In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has 180 calendar days from the date of the MVLS Deficiency Notice, or until February 17, 2025 (the “Compliance Date”), to regain compliance with respect to the MVLS Requirement. The MVLS Deficiency Notice states that to regain compliance with the MVLS Requirement, the Company’s MVLS must close at $50 million or more for a minimum of ten consecutive business days during the compliance period ending on the Compliance Date. If the Company does not regain compliance by the Compliance Date, Nasdaq will provide written notice to the Company that its securities are subject to delisting. At that time, the Company may appeal any such delisting determination. However, there can be no assurance that, if the Company receives a delisting notice from the Staff and appeals the delisting determination, such appeal would be successful. Alternatively, the Company may consider applying for transfer to The Nasdaq Capital Market. Anuncio • May 17
Global Star Acquisition, Inc. announced delayed 10-Q filing On 05/15/2024, Global Star Acquisition, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Anuncio • Nov 15
Global Star Acquisition, Inc. announced delayed 10-Q filing On 11/14/2023, Global Star Acquisition, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Anuncio • Aug 17
Global Star Acquisition, Inc. announced delayed 10-Q filing On 08/15/2023, Global Star Acquisition, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Anuncio • Jun 07
Global Star Acquisition Announces Receipt of Nasdaq Listing Compliance Determination Notice On June 6, 2023, Global Star Acquisition Inc. (the “Company”) announced that on April 19 it received a delinquency notification letter from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) due to the Company’s non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) as a result of the Company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Form 10-K”). The Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”). The Company filed the Form 10-K with the SEC on May 25, 2023. On June 1, 2023, the Company received a letter from Nasdaq indicating that based on the Company’s May 25, 2023 filing of the Form 10-K, the Staff has determined that the Company has complied with the Listing Rule and, accordingly, the matter was closed. As a result, the Company is currently in compliance with the Nasdaq Listing Rules and the Company’s securities will continue to trade on Nasdaq. As previously disclosed in the Notification of Late Filing on Form 12b-25 filed on May 15, 2023 and Amendment No. 1 filed on May 23, 2023 by the Company with the SEC, the Company had determined that it required additional time to complete its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the “Form 10-Q”). The Company anticipates that it will file the Form 10-Q as soon as reasonably practicable and expects to do so by June 26, 2023. Anuncio • May 29
Global Star Acquisition Discloses Receipt of NASDAQ Continued Listing Standard Notice and Announces Filing of its Annual Report on Form 10-K On May 26, 2023, Global Star Acquisition Inc. announced that it received a deficiency letter on May 23, 2023 (the Compliance Letter) from the Listing Qualifications Department of The NASDAQ Stock Market LLC (NASDAQ) indicating that, as a result of having not timely filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the First Quarter 2023 Form 10-Q) and its Annual Report on Form 10-K for the year ended December 31, 2022 (the 2022 Form 10-K) with the Securities and Exchange Commission (the SEC), the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1) (the Listing Rule), which requires timely filing of all required periodic financial reports with the SEC. As previously disclosed in the Notification of Late Filing on Form 12b-25 filed on May 15, 2023 and Amendment No. 1 filed on May 23, 2023, the Company expected to receive the Compliance Letter because it had not timely filed the First Quarter 2023 Form 10-Q with the SEC and the Company had determined that it required additional time. The Compliance Letter has no immediate effect on the listing or trading of the Company's securities on the NASDAQ Capital Market. Pursuant to the Compliance Letter, the Company has until June 20, 2023 to submit a plan to NASDAQ showing how it intends to regain compliance. The Company filed its Annual Report on Form 10-K on May 25, 2023. The Company anticipates that it will file the First Quarter 2023 Form 10-Q as soon as possible, and in any case before June 20, 2023, and thereafter, believes the Company will be in compliance with all of the NASDAQ continued listing requirements. Anuncio • May 25
Global Star Acquisition, Inc. announced delayed amended 10-Q filing On 05/23/2023, Global Star Acquisition, Inc. announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. Anuncio • May 16
Global Star Acquisition, Inc. announced delayed 10-Q filing On 05/15/2023, Global Star Acquisition, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Anuncio • Jan 13
Global Star Acquisitioninc. Announces Audit Committee and Compensation Committee Appointments Global Star Acquisition, Inc. announced that the Company appointed Argon Lam Chun Win and Jukka Rannila, the current directors of the Company, as members of the Compensation Committee of the Board (the “Compensation Committee”), and appointed Argon Lam Chun Win as a member of the Audit Committee of the Board (the “Audit Committee”). Argon Lam Chun Win Mr. Lam currently serves as an independent director of the Company since November 15, 2022. Jukka Rannila Mr. Rannila currently serves as an independent director and a member of the Audit Committee of the Company since September 19, 2022. Anuncio • Nov 24
Global Star Acquisition Announces Receipt of Nasdaq Continued Listing Standard Notice Global Star Acquisition, Inc. (the “Company”) announced that it received a deficiency letter (the “Notice”) on November 22, 2022 from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because it had not timely filed its Third Quarter Financials on Form 10-Q for the period ended September 30, 2022 (the “Form 10-Q”) with the SEC. As previously disclosed in the Form 12b-25 and Form 12b-25/A, filed on November 11, 2022, and November 22, 2022, respectively by the Company with the Securities Exchange Commission (the “SEC”), the Company had determined that it was unable, without unreasonable effort or expense, to file its Form 10-Q, by the required due date of November 14, 2022 and November 21, 2022, respectively. The Company also announced that it expected to receive a letter from the Listing Qualifications Department of Nasdaq stating that the Company is not in compliance with the listing rule because it had not timely filed the Form 10-Q with the SEC. The Listing Rule requires listed companies to timely file all required periodic financial reports with the SEC. In connection with the foregoing, on November 22, 2022, the Company received such letter from NASDAQ. The Company intends to file the Form 10-Q and regain compliance prior to January 23, 2023. Anuncio • Nov 23
Global Star Acquisition, Inc. announced delayed amended 10-Q filing On 11/22/2022, Global Star Acquisition, Inc. announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. Anuncio • Nov 18
Global Star Acquisition, Inc. Announces Executive Changes Global Star Acquisition, Inc. announced that the Company accepted the resignation of former Director Kan Mun Wai Benny on November 15, 2022. On November 15, 2022, the Company appointed Argon Lam Chun Win as a new independent member of its Board of Directors. With the acceptance of this resignation and appointment of the new director, the Company’s Board will remain at eight (8) seats. Mr. Lam brings a wealth of leadership and upper management experience in the financial services sector which will serve the Company and its shareholders well. Mr. Lam currently serves as a Vice President of a leading fund management company granted the Type 4 and Type 9 license by the Hong Kong Securities and Futures Commission for holding customer assets and providing investment consultancy services. Mr. Lam brings a deep understanding of investment performance and has served as a Vice President of two additional leading fund management companies from 2016 to the present. He brings vast experience and a developed insight to serving the needs of customers seeking excellent investment performance. His expertise will serve the Company and its shareholders well. Anuncio • Nov 15
Global Star Acquisition, Inc. announced delayed 10-Q filing On 11/14/2022, Global Star Acquisition, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.