Form 8-K - Current report
November 27 2023 - 4:15PM
Edgar (US Regulatory)
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0001589149
0001589149
2023-11-21
2023-11-21
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): November 21, 2023
Greenwave
Technology Solutions, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-41452 |
|
46-2612944 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
4016
Raintree Road, Suite 300, Chesapeake, VA 23321
(Address
of Principal Executive Offices)
(800)
490-5020
(Registrant’s
telephone number)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.001 par value |
|
GWAV |
|
NASDAQ
Capital Market |
Item
3.01 |
Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On
June 24, 2016, Greenwave Technology Solutions, Inc., a Delaware corporation (the “Company”), received a written notice (the
“Notice”) from the Listing Qualifications Department of The Nasdaq Capital Market (“NASDAQ”) indicating that
NASDAQ has determined that the Company has failed to comply with NASDAQ Listing Rule 5550(b)(1). NASDAQ Listing Rule 5550(b)(1) requires
that companies listed on NASDAQ maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. The Company’s
Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 reported stockholders’ equity below the $2,500,000 minimum
requirement for continued listing and, as of the date of the Notice, NASDAQ determined that the Company did not meet the alternatives
of market value of listed securities or net income from continuing operations. As previously disclosed on October 6, 2023, the Company
received a letter from NASDAQ indicating that for the previous thirty (30) consecutive business days, the bid price for the Company’s
common stock closed below the minimum $1.00 per share requirement for continued listing on NASDAQ under Nasdaq Listing Rule 5550(a)(2).
The
Notice provides that the Company has 45 calendar days to submit a plan to regain compliance with NASDAQ’s continued listing requirements.
The Company intends to timely submit a plan to regain compliance to NASDAQ and, if the plan is accepted, NASDAQ can grant an exception
of up to 180 calendar days from the date of the Notice for the Company to evidence compliance.
Forward-Looking
Statements
This
current report contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking
statements can be identified by words such as “projects,” “may,” “will,” “could,” “would,”
“should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,”
“plans,” “potential,” “promise” or similar references to future periods. Examples of forward-looking
statements in this current report include, without limitation, statements regarding the Company’s intent to monitor the bid price
of its common stock and consider available options, including a reverse stock split; and the Company’s eligibility for an additional
180 calendar day compliance period. Forward-looking statements are statements that are not historical facts, nor assurances of future
performance. Instead, they are based on the Company’s current beliefs, expectations and assumptions regarding the future of its
business, future plans, strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent risks and uncertainties, and actual results may differ materially from
those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, without limitation,
there can be no assurance that the Company will meet the bid price requirement during any compliance period or otherwise in the future,
otherwise meet Nasdaq compliance standards, that Nasdaq will grant the Company any relief from delisting as necessary or whether the
Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief, and the other important factors described
under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K/A filed with the Securities and Exchange
Commission (the “SEC”) on April 13, 2023 and its other filings with the SEC. Any forward-looking statement made by the Company
in this current report is based only on information currently available and speaks only as of the date on which it is made. Except as
required by applicable law, the Company expressly disclaims any obligation to publicly update any forward-looking statements, whether
written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Dated:
November 27, 2023
|
Greenwave
Technology Solutions, Inc. |
|
|
|
|
By: |
/s/
Danny Meeks |
|
Name:
|
Danny
Meeks |
|
Title: |
Chief
Executive Officer |
v3.23.3
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Nov. 21, 2023 |
Cover [Abstract] |
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Document Type |
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|
Amendment Flag |
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|
Document Period End Date |
Nov. 21, 2023
|
Entity File Number |
001-41452
|
Entity Registrant Name |
Greenwave
Technology Solutions, Inc.
|
Entity Central Index Key |
0001589149
|
Entity Tax Identification Number |
46-2612944
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
4016
Raintree Road
|
Entity Address, Address Line Two |
Suite 300
|
Entity Address, City or Town |
Chesapeake
|
Entity Address, State or Province |
VA
|
Entity Address, Postal Zip Code |
23321
|
City Area Code |
(800)
|
Local Phone Number |
490-5020
|
Written Communications |
false
|
Soliciting Material |
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|
Pre-commencement Tender Offer |
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|
Pre-commencement Issuer Tender Offer |
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|
Title of 12(b) Security |
Common
Stock, $0.001 par value
|
Trading Symbol |
GWAV
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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