Hyperscale Data, Inc. Announces Notice of Noncompliance with NYSE American Listing Standards
Hyperscale Data (NYSE American: GPUS) has received a notice of noncompliance from NYSE American due to insufficient stockholders' equity. The company reported stockholders' equity of approximately $2.2 million, falling below the required minimum of $6 million under Section 1003(a)(ii) and (iii) of the NYSE American Company Guide. This notification comes after reporting losses in five of its most recent fiscal years through December 2023.
The company must submit a compliance plan by January 17, 2025, demonstrating how it will regain compliance by June 18, 2026. During this period, GPUS stock will continue trading on NYSE American, subject to plan acceptance and ongoing compliance reviews.
Hyperscale Data (NYSE American: GPUS) ha ricevuto una comunicazione di non conformità da NYSE American a causa di un capitale sociale insufficiente. L'azienda ha riportato un capitale sociale di circa $2,2 milioni, inferiore al minimo richiesto di $6 milioni ai sensi della Sezione 1003(a)(ii) e (iii) della Guida alle Aziende di NYSE American. Questa notifica è giunta dopo aver segnalato perdite in cinque dei suoi ultimi anni fiscali fino a dicembre 2023.
L'azienda deve presentare un piano di conformità entro il 17 gennaio 2025, dimostrando come intende ripristinare la conformità entro il 18 giugno 2026. Durante questo periodo, le azioni di GPUS continueranno a essere scambiate su NYSE American, soggette all'accettazione del piano e a controlli di conformità in corso.
Hyperscale Data (NYSE American: GPUS) ha recibido un aviso de incumplimiento de NYSE American debido a un capital social insuficiente. La empresa reportó un capital social de aproximadamente $2,2 millones, por debajo del mínimo requerido de $6 millones según la Sección 1003(a)(ii) y (iii) de la Guía para Empresas de NYSE American. Esta notificación llega después de reportar pérdidas en cinco de sus más recientes años fiscales hasta diciembre de 2023.
La empresa debe presentar un plan de cumplimiento antes del 17 de enero de 2025, mostrando cómo recuperará el cumplimiento antes del 18 de junio de 2026. Durante este período, las acciones de GPUS continuarán negociándose en NYSE American, sujetas a la aceptación del plan y a revisiones de cumplimiento en curso.
하이퍼스케일 데이터(Hyperscale Data) (NYSE American: GPUS)는 주주 자본이 부족하여 NYSE American으로부터 비준수 통지를 받았습니다. 회사는 약 $2.2 백만의 주주 자본을 보고하여, NYSE American 회사 안내서의 섹션 1003(a)(ii) 및 (iii)에 따라 요구되는 최소 $6 백만을 하회했습니다. 이 통지는 2023년 12월까지 최근 5개 회계 연도에 걸쳐 손실을 보고한 후에 이루어졌습니다.
회사는 2025년 1월 17일까지 준수 계획을 제출해야 하며, 2026년 6월 18일까지 준수를 회복하는 방법을 보여주어야 합니다. 이 기간 동안 GPUS 주식은 NYSE American에서 거래를 계속하며, 계획 수락 및 계속적인 준수 검토에 따라 달라질 수 있습니다.
Hyperscale Data (NYSE American: GPUS) a reçu un avis de non-conformité de la part de NYSE American en raison d'un capital social insuffisant. L'entreprise a rapporté un capital social d'environ 2,2 millions de dollars, inférieur au minimum requis de 6 millions de dollars conformément à la Section 1003(a)(ii) et (iii) du Guide des entreprises de NYSE American. Cette notification intervient après avoir signalé des pertes au cours de cinq de ses dernières années fiscales jusqu'en décembre 2023.
L'entreprise doit soumettre un plan de conformité d'ici le 17 janvier 2025, montrant comment elle prévoit de retrouver la conformité d'ici le 18 juin 2026. Pendant cette période, les actions GPUS continueront à se négocier sur NYSE American, sous réserve de l'acceptation du plan et d'examens de conformité en cours.
Hyperscale Data (NYSE American: GPUS) hat von NYSE American eine Mitteilung über Nichteinhaltung erhalten, da das Eigenkapital der Aktionäre unzureichend ist. Das Unternehmen meldete ein Eigenkapital von etwa 2,2 Millionen US-Dollar, was unter dem erforderlichen Minimum von 6 Millionen US-Dollar gemäß Abschnitt 1003(a)(ii) und (iii) des NYSE American Unternehmensleitfadens liegt. Diese Mitteilung erfolgt nach der Berichterstattung über Verluste in fünf der letzten Geschäftsjahre bis Dezember 2023.
Das Unternehmen muss bis zum 17. Januar 2025 einen Plan zur Einhaltung einreichen, der zeigt, wie es bis zum 18. Juni 2026 wieder konform wird. In diesem Zeitraum wird die Aktie GPUS weiterhin an der NYSE American gehandelt, vorbehaltlich der Annahme des Plans und fortlaufender Überprüfungen der Einhaltung.
- Stock continues to trade on NYSE American during compliance period
- Company has until January 17, 2025 to submit compliance plan
- 18-month grace period to regain compliance if plan is accepted
- Stockholders' equity of $2.2M falls below required $6M minimum
- Reported losses in 5 of most recent fiscal years through 2023
- Risk of delisting if compliance plan is rejected or not met
- Subject to quarterly monitoring and periodic reviews
Insights
The 18-month compliance window until June 2026 provides some breathing room, but the company must submit a viable turnaround plan by January 17, 2025. Failure to meet these requirements or show progress could trigger delisting procedures, which would severely impact trading liquidity and institutional investor access.
For context, this level of stockholders' equity is particularly concerning for a company with a
The Section 1003(a)(ii) and (iii) violations are particularly serious as they combine both inadequate stockholders' equity and a pattern of losses. This dual trigger often indicates fundamental business challenges rather than temporary setbacks.
While the company maintains its listing during the compliance period, it faces enhanced scrutiny and reporting requirements. The quarterly monitoring regime will demand rigorous documentation and progress metrics. Management's statement about confidence in submitting an acceptable plan carries potential liability risks if the company fails to execute.
Trading patterns typically show increased volatility following such announcements as investors reassess risk premiums. Historical data suggests companies in similar situations face challenges raising capital on favorable terms, creating a potential negative feedback loop.
The timing of this notice, during the holiday period, may temporarily mask market reaction. However, the January 17, 2025 deadline for the compliance plan submission will likely be a important catalyst for price action. Peer analysis shows that successful turnarounds in similar scenarios often require significant strategic shifts or capital structure reorganization.
LAS VEGAS, Dec. 23, 2024 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), announced that it was notified today by the NYSE American that due to the Company’s disclosure in its Form 10-Q filed for the fiscal period ended September 30, 2024, which reported stockholders’ equity of approximately
Under the applicable NYSE American listing rules, the Company must by January 17, 2025 submit a compliance plan that demonstrates how it intends to regain compliance with the Listing Standards within 18 months of the receipt of the notice, or June 18, 2026. The Company intends to develop and submit to the NYSE American such a plan. If the NYSE American does not accept the plan, or if the Company does not make progress consistent with the plan during the plan period, the NYSE American will initiate delisting procedures. If the NYSE American accepts the plan the Company will be subject to periodic reviews including quarterly monitoring for compliance with the plan. During this period, the Company's common stock will continue to be listed on the NYSE American and trade as usual subject to compliance with other NYSE American listing requirements.
The Company is confident that it will be able to submit a plan acceptable to the NYSE American within the requisite period and further that it will promptly be able to demonstrate that it has regained compliance with the Listing Standards.
For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.
About Hyperscale Data, Inc.
Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.
Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235
FAQ
What caused Hyperscale Data (GPUS) to receive NYSE American noncompliance notice?
What is the deadline for GPUS to submit its NYSE American compliance plan?
How long does GPUS have to regain compliance with NYSE American listing standards?
Will GPUS stock continue trading during the compliance period?
What happens if GPUS fails to meet NYSE American compliance requirements?
