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iCoreConnect Inc. 8-K Analysis & Summary – 2/21/2025

⚠️This is not investment advice.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️

iCoreConnect Inc.

Filing date:

02/21/2025

TLDR:

iCoreConnect Inc. received notification from Nasdaq that its common stock may be suspended from trading due to non-compliance with the minimum stockholders’ equity requirement, and the company plans to appeal the decision.

ELI5:

The company iCoreConnect may be removed from the Nasdaq stock exchange because it doesn’t have enough stockholders’ equity. They are asking for a review to try and prevent this.

Accession #:

0001477932-25-001187

Published on

Analyst Summary

  • iCoreConnect, Inc. received a deficiency letter from Nasdaq on August 20, 2024, for not complying with the minimum $2,500,000 stockholders’ equity requirement.
  • As of February 17, 2025, the Company was still not in compliance with the Equity Rule.
  • On February 18, 2025, Nasdaq notified the Company that trading of its common stock will be suspended on February 27, 2025, and a Form 25-NSE will be filed to remove the Company’s securities from listing and registration.
  • The Company plans to submit a hearing request to Nasdaq’s Hearings Panel to stay the suspension.

Potential Implications

Stock Price

  • Potential negative impact on stock price due to possible delisting from Nasdaq.
  • Uncertainty regarding the outcome of the hearing request may cause stock price volatility.

⚠️ This is an experimental project and this report is for informational purposes only and should not be considered investment advice. Conduct your own thorough research and consult with a qualified financial advisor before making any investment decisions. ⚠️