Nasdaq Warns Onfolio Over Sub-$1 Stock Price, Sets December Deadline
ONFO is trading near its 52-week low of $0.213 (9.0% above the low).
Summary
Nasdaq notified Onfolio on July 2 that its stock has traded below $1 for 30 consecutive days, triggering a deficiency notice under Listing Rule 5550(a)(2). The company has until December 29, 2026, to regain compliance, with a possible additional 180-day extension if it meets other listing standards, including a potential reverse stock split. This follows a May 29 Nasdaq notice for failing the stockholders' equity requirement and comes one day after Onfolio announced a binding LOI to combine with Paramount Helium, a strategic pivot into industrial gases. With a market cap under $2 million and a going concern warning, the bid price deficiency adds to mounting exchange delisting risks. The shareholder meeting on August 6 to approve critical proposals, including measures tied to a $100 million equity facility, now carries even higher stakes for the company's survival on Nasdaq.
At the time of this announcement, ONFO was trading at $0.23 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.7M. The 52-week trading range was $0.21 to $2.48. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.