Nexalin Tech SEC Filings

Nexalin Technology, Inc. reported another quarterly loss while highlighting serious liquidity risk and Nasdaq listing pressure. For the quarter ended March 31, 2026, revenue was only $14,950, down 64% from $41,015 a year earlier, as international equipment sales softened. The company posted a net loss of $2,096,837, slightly worse than the prior-year loss of $1,988,337, and used $1,712,988 of cash in operating activities.

As of March 31, 2026, Nexalin held $1,207,895 in cash and cash equivalents and $1,500,590 in short-term investments, with working capital of $2,481,790. It raised $756,421 of net proceeds by selling 1,395,300 shares through its at-the-market equity program, bringing total ATM gross proceeds to about $1,423,000.

Management states that recurring losses, negative operating cash flow and limited resources create substantial doubt about Nexalin’s ability to continue as a going concern for at least twelve months. The company also received a Nasdaq notice on January 21, 2026 for failing to meet the $1.00 minimum bid price requirement and has until July 20, 2026 to regain compliance. Nexalin continues to advance its Gen-2 SYNC and Gen-3 HALO neurostimulation devices, including signing a roughly $944,820 scope of work with Lindus Health for a pivotal insomnia study.

Nexalin Technology has engaged U.K.-based clinical research group Lindus Health to run its pivotal clinical trial for the HALO™ Clarity device to treat moderate-to-severe insomnia. Under a new Scope of Work, Nexalin will pay approximately $944,820 in direct fees, plus pass-through expenses, with payments tied to milestones.

The randomized, 160-participant, triple-blinded, sham-controlled study is designed to support a planned De Novo submission to the U.S. FDA. Patient enrollment is currently expected to begin in Q2 2026. Nexalin highlights previously published peer-reviewed data showing statistically significant improvements versus sham and positions HALO™ Clarity as a non-invasive, drug-free neurostimulation option within a sleep-tech market estimated at $29.3 billion in 2025.

Nexalin Technology has engaged U.K.-based clinical research group Lindus Health to run its pivotal clinical trial for the HALO™ Clarity device to treat moderate-to-severe insomnia. Under a new Scope of Work, Nexalin will pay approximately $944,820 in direct fees, plus pass-through expenses, with payments tied to milestones.

The randomized, 160-participant, triple-blinded, sham-controlled study is designed to support a planned De Novo submission to the U.S. FDA. Patient enrollment is currently expected to begin in Q2 2026. Nexalin highlights previously published peer-reviewed data showing statistically significant improvements versus sham and positions HALO™ Clarity as a non-invasive, drug-free neurostimulation option within a sleep-tech market estimated at $29.3 billion in 2025.

Nexalin Technology, Inc. files its annual report describing a neurostimulation business still in development and facing significant financial strain. The company recorded a net loss of approximately $8,222,000 for the year ended December 31, 2025, increasing its accumulated deficit to about $92,867,000. Its auditor raises substantial doubt about Nexalin’s ability to continue as a going concern, making future funding critical.

Nexalin is pivoting from its legacy Gen-1 device, which can no longer be newly marketed in the U.S. after a 2019 FDA reclassification, to new 15 milliamp Gen-2 “SYNC” and Gen-3 “HALO” systems. These devices are advancing through FDA Q-Submission and pre-submission processes for indications including anxiety, insomnia, and Alzheimer’s disease, but none yet have U.S. clearance. The company highlights international approvals in China, Oman and Brazil, a China joint venture, and a planned virtual clinic and home-use headset model, all of which remain early-stage and dependent on successful trials and regulatory approvals.

Nexalin Technology, Inc. files its annual report describing a neurostimulation business still in development and facing significant financial strain. The company recorded a net loss of approximately $8,222,000 for the year ended December 31, 2025, increasing its accumulated deficit to about $92,867,000. Its auditor raises substantial doubt about Nexalin’s ability to continue as a going concern, making future funding critical.

Nexalin is pivoting from its legacy Gen-1 device, which can no longer be newly marketed in the U.S. after a 2019 FDA reclassification, to new 15 milliamp Gen-2 “SYNC” and Gen-3 “HALO” systems. These devices are advancing through FDA Q-Submission and pre-submission processes for indications including anxiety, insomnia, and Alzheimer’s disease, but none yet have U.S. clearance. The company highlights international approvals in China, Oman and Brazil, a China joint venture, and a planned virtual clinic and home-use headset model, all of which remain early-stage and dependent on successful trials and regulatory approvals.

Nexalin Technology, Inc. is advancing plans for a pivotal clinical trial of its HALO™ Clarity device to treat moderate to severe insomnia. The study is intended to support a planned de novo submission to the U.S. Food and Drug Administration for a drug-free insomnia treatment.

The randomized, triple-blinded, sham-controlled trial is designed to enroll at least 150 adults across the United States, using a fully decentralized model through Nexalin’s NeuroCare virtual clinic and electronic data capture system. Lindus Health will collaborate on trial execution, regulatory preparation, and patient recruitment.

This pivotal study builds on previously published 120-patient randomized, double-blind, placebo-controlled data in chronic insomnia that showed clinically meaningful, statistically significant sleep improvements with no significant adverse effects, and on international approvals for Nexalin’s Gen-2 15 mA device for insomnia and related indications.

Nexalin Technology, Inc. is advancing plans for a pivotal clinical trial of its HALO™ Clarity device to treat moderate to severe insomnia. The study is intended to support a planned de novo submission to the U.S. Food and Drug Administration for a drug-free insomnia treatment.

The randomized, triple-blinded, sham-controlled trial is designed to enroll at least 150 adults across the United States, using a fully decentralized model through Nexalin’s NeuroCare virtual clinic and electronic data capture system. Lindus Health will collaborate on trial execution, regulatory preparation, and patient recruitment.

This pivotal study builds on previously published 120-patient randomized, double-blind, placebo-controlled data in chronic insomnia that showed clinically meaningful, statistically significant sleep improvements with no significant adverse effects, and on international approvals for Nexalin’s Gen-2 15 mA device for insomnia and related indications.

Nexalin Technology, Inc. received a notice from Nasdaq on January 21, 2026 stating that its common stock no longer meets the minimum $1.00 bid price requirement for continued listing on The Nasdaq Capital Market. This non-compliance is based on the stock’s closing bid price over the last 30 consecutive business days.

The company has 180 calendar days, until July 20, 2026, to regain compliance by having its closing bid price at or above $1.00 per share for at least ten consecutive business days. If it fails to do so, it may qualify for a second 180-day period if it meets other Nasdaq initial listing standards apart from the bid price. If compliance is not regained, Nasdaq may move to delist the stock, although the company could appeal and would expect trading to move to an OTC Markets Group marketplace. Nexalin plans to monitor its stock price and evaluate options to regain compliance.

Nexalin Technology, Inc. received a notice from Nasdaq on January 21, 2026 stating that its common stock no longer meets the minimum $1.00 bid price requirement for continued listing on The Nasdaq Capital Market. This non-compliance is based on the stock’s closing bid price over the last 30 consecutive business days.

The company has 180 calendar days, until July 20, 2026, to regain compliance by having its closing bid price at or above $1.00 per share for at least ten consecutive business days. If it fails to do so, it may qualify for a second 180-day period if it meets other Nasdaq initial listing standards apart from the bid price. If compliance is not regained, Nasdaq may move to delist the stock, although the company could appeal and would expect trading to move to an OTC Markets Group marketplace. Nexalin plans to monitor its stock price and evaluate options to regain compliance.

Nexalin Technology, Inc. reported material operational and governance details showing continued cash consumption alongside recent equity raises and Nasdaq compliance. The company lost $7.8 million from operations in 2024 and generated negative operating cash flow of $3.94 million, though it reported a working capital surplus of approximately $3.4 million. Shares outstanding increased to 13,303,523 from 7,436,562, including issuance of 3,000,000 shares to investors for net proceeds of $4.52 million and multiple share issuances to Wider and consultants for services and R&D.

The filing discloses internal control weaknesses: insufficient segregation of duties in financial reporting and inadequate IT user/superuser access controls. The company invested $96,000 in a joint venture accounted for under the equity method and wrote off a previously defaulted promissory note principal of $500,000. On July 23, 2024 Nasdaq confirmed compliance with the Minimum Stockholder Equity Rule.

Nexalin Technology, Inc. reported material operational and governance details showing continued cash consumption alongside recent equity raises and Nasdaq compliance. The company lost $7.8 million from operations in 2024 and generated negative operating cash flow of $3.94 million, though it reported a working capital surplus of approximately $3.4 million. Shares outstanding increased to 13,303,523 from 7,436,562, including issuance of 3,000,000 shares to investors for net proceeds of $4.52 million and multiple share issuances to Wider and consultants for services and R&D.

The filing discloses internal control weaknesses: insufficient segregation of duties in financial reporting and inadequate IT user/superuser access controls. The company invested $96,000 in a joint venture accounted for under the equity method and wrote off a previously defaulted promissory note principal of $500,000. On July 23, 2024 Nasdaq confirmed compliance with the Minimum Stockholder Equity Rule.

Nexalin Technology, Inc. reported material operational and governance details showing continued cash consumption alongside recent equity raises and Nasdaq compliance. The company lost $7.8 million from operations in 2024 and generated negative operating cash flow of $3.94 million, though it reported a working capital surplus of approximately $3.4 million. Shares outstanding increased to 13,303,523 from 7,436,562, including issuance of 3,000,000 shares to investors for net proceeds of $4.52 million and multiple share issuances to Wider and consultants for services and R&D.

The filing discloses internal control weaknesses: insufficient segregation of duties in financial reporting and inadequate IT user/superuser access controls. The company invested $96,000 in a joint venture accounted for under the equity method and wrote off a previously defaulted promissory note principal of $500,000. On July 23, 2024 Nasdaq confirmed compliance with the Minimum Stockholder Equity Rule.

Nexalin Technology, Inc. reports that its publicly traded warrants issued as part of its initial public offering have expired. On September 22, 2025, at 5:00 PM Eastern time, these warrants, each exercisable for one share of common stock at an exercise price of $4.15, terminated in accordance with their original terms.

The Nasdaq Stock Market filed a Form 25 with the SEC to reflect that the warrants had expired and were delisted. The company’s common stock is unaffected by this change and will continue to trade on the Nasdaq Capital Market under the symbol NXL.

Nexalin Technology, Inc. (symbol NXLIW) is the subject of a Form 25 notification filed under the Securities Exchange Act to remove a class of its securities from listing and/or registration on the Nasdaq Stock Market LLC. The filing names the issuer and provides its principal office at 1776 Yorktown, Suite 550, Houston, Texas 77056 and a contact telephone number as listed in the form.

The document duplicates the regulatory checkboxes for rule provisions governing removal and states that Nasdaq certifies it has complied with the applicable procedures to strike or withdraw the class of securities. The form includes the standard OMB approval legend and a note that the Form 25 and attached notice comply with the applicable rules.