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. 
