Noticias y eventos de Socket Mobile Inc (SCKT)SCKTSocket Mobile Inc

Company Reports Q3 Revenue of $3.4M

Reports Q3 revenue $3.4M from $3.11M last year. "Our Q3 results reflect progress in stabilizing revenue while executing our cost management initiatives," said CEO Dave Holmes. "Revenue increased 12% sequentially from Q2 and 9% compared with the prior-year quarter, reflecting improved performance amid continued market uncertainty. At the same time, we continued to align our cost structure with business conditions, reducing operating expenses by 12% from the prior quarter and 10% year over year. These results reflect our ongoing focus on operational efficiency and financial discipline while maintaining our ability to support customers and pursue future growth opportunities."

Socket Mobile Trading Resumes

Socket Mobile trading resumes

Socket Mobile Voluntarily Delists from Nasdaq to OTCID Market

Socket Mobile announced that its Board of Directors has approved a plan to voluntarily withdraw the listing of its common stock from The Nasdaq Capital Market and transition the quotation of its shares to the OTCID Market operated by OTC Markets Group. The Company expects its common stock to be quoted on the OTCID Market under its current ticker symbol, SCKT, following the effectiveness of the delisting from Nasdaq, subject to the completion of all applicable requirements and arrangements. The Board concluded that the substantial legal, accounting, compliance, and listing fees associated with maintaining a Nasdaq listing are no longer an optimal use of corporate capital relative to the benefits provided. By transitioning quotation to the OTCID Market, the Company expects to substantially reduce administrative and regulatory overhead and eliminate the diversion of management resources, allowing the Company to redirect critical capital toward core product development, operational execution, and long-term business objectives. The Company has received written confirmation from OTC Markets Group Inc. that it has satisfied the onboarding qualifications for quotation on the OTCID Market. The Company is currently below the continued listing requirement under Nasdaq Listing Rule 5550, which requires a minimum of $2.5M in stockholders' equity, and previously submitted a compliance plan to Nasdaq Listing Qualifications. Delisting from The Nasdaq Capital Market is expected to become effective on or about November 19, ten calendar days after filing Form 25. Regular trading on Nasdaq is expected to cease at the close of regular market hours on November 18.