공시 • Jul 04
Nasdaq to Delist Ordinary Shares of noco-noco The Nasdaq Stock Market announced that it will delist the ordinary shares and warrants of noco-noco Inc. noco-noco’s securities were suspended on November 25, 2024 and have not traded on Nasdaq since that time. 공시 • Jan 24
noco-noco Inc. Announces Resignation of Noriyoshi Suzuki as Independent Director and Re-Establishment of Sub-Committees On January 23, 2025, Mr. Noriyoshi Suzuki notified noco-noco Inc. of his resignation as an independent director of the Company, effective from January 24, 2025. Mr. Noriyoshi Suzuki has advised that his resignation was due to personal reasons and was not the result of any disagreements with the Company relating to the Company’s operations, policies or practices. Re-establishment of Sub-Committees of the Board of Directors: As a result of resignations of Mr. Noriyoshi Suzuki as an independent director, the Company will adjust the Sub-Committees of the Board of Directors as follows: Audit Committee: Chairperson - Minoru Tanaka. Member - Jean-François Raymond Roger Minier. Nomination and Corporate Governance Committee (No Change): Chairperson - Jean-François Raymond Roger Minier. Member - Minoru Tanaka. Member - Masataka Matsumura. Compensation Committee: Chairperson - Jean-François Raymond Roger Minier. Member - Masataka Matsumura. 공시 • Oct 30
noco-noco Inc. announced delayed 20-F filing On 10/29/2024, noco-noco Inc. announced that they will be unable to file their next 20-F by the deadline required by the SEC. 공시 • Oct 23
noco-noco Inc. Seeks an Extension to Effect Its Reverse Stock Split in Order to Comply with Nasdaq’s Minimum Bid Price Requirement noco-noco Inc. (the “Company”) announced that it has sought an extension to effect its reverse stock split in order to comply with Nasdaq’s minimum bid price requirement, following a delay that prevented the reverse split from taking place, by the previously set deadline of November 1, 2024. At the Extraordinary General Meeting (“EGM”) held on October 17, 2024, the Company’s shareholders approved a share consolidation (reverse stock split) and the adoption of an Amended Memorandum & Articles of Association (“MAA”), both intended to take effect immediately. However, due to the timing of the required filings, the reverse split was delayed. Specifically, the Company did not submit the Company Event Notification Form to Nasdaq five business days prior to the planned effective date. This delay arose because of the issuance of consideration shares to noco-tech, a wholly-owned subsidiary of 3DOM Alliance Inc., as part of the Company's broader compliance strategy regarding the shareholders' equity requirement. The transfer agent required more time than expected to process these updates to the shareholder register. Due to this delay, the Company will need to postpone the effective date of the share consolidation. Under Cayman Islands law, changes such as share consolidation and amendments to the MAA require shareholder approval. As the Company was unable to implement the share consolidation on the previously approved date, it will seek shareholder ratification for the revised effective date at an upcoming EGM, anticipated on December 13, 2024, with the reverse stock split expected to be implemented approximately December 20, 2024. In connection with its actions to comply with the $2.5 million minimum stockholders’ equity requirement in accordance with the Panel’s decision dated August 25, 2024, the Company closed the acquisition of separator production facilities from noco-tech Inc. for approximately $9 million, via a new issuance of 90,433,183 restricted ordinary shares of the Company at a reference price of $0.10 per share, with such shares to be issued as full and final consideration for the assets. The successful transaction closing has significantly improved the shareholder equity deficit position of $7.3 million as of June 30, 2024 (unaudited) to a positive position of $1.7 million. The Company remains committed to regaining compliance with Nasdaq’s listing standards and will continue to update shareholders on further developments. New Risk • Aug 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 28% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (28% average weekly change). Negative equity (-US$7.5m). Shareholders have been substantially diluted in the past year (over 15x increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (US$38.9m market cap). 