Singlepoint Inc.

29/07/2024 | Press release | Distributed by Public on 29/07/2024 10:01

Failure to Satisfy Listing Rule Form 8 K

Item 3.01Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On July 23, 2024, SinglePoint Inc. (the "Company") received a written notice (the "Deficiency Notification") from the Listing Qualifications Department (the "Staff") of The Cboe BZX Exchange, Inc. ("Cboe BZX") notifying the Company that the Staff has determined based on the Company's recently filed Form 10-K for the period ended December 31, 2023 (the "Form 10-K") that the Company does not meet the minimum requirements of Cboe BZX Listing Rule 14.9(e)(2) (the "Rule"), which requires a primary equity security listed on the Cboe BZX to meet at least one of the following continued listing standards: (i) stockholders' equity of at least $2.5 million; (ii) market value of listed securities of at least $35 million; or (iii) net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years.

In response to previously disclosed notices, the Company filed its Form 10-K on July 19, 2024 and is diligently working on completing the Form 10-Q so that it can be filed as soon as practicable. Pursuant to Cboe BZX Listing Rule 14.12(h), the Company timely requested a hearing (the "Hearing") before a Hearings Panel to address the remaining deficiencies identified in the previously disclosed notices, and the Hearing is currently scheduled to occur on August 8, 2024.

The Deficiency Notification stated that the Company's failure to meet the continued listing standards of the Rule will be addressed as part of the Hearing. At the Hearing, the Company intends to request an extension within which to evidence compliance with the Rule and the other applicable listing rules previously identified.

Forward-looking Statements

This report may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include but are not limited to: any statements regarding: the filing of the Form 10-Q, our ability to regain compliance with the applicable Cboe BZX listing rules and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price.

We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this report should be read as applying mutatis mutandis to every other instance of such information appearing herein.

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