Failure to Satisfy Listing Rule Form 8 K

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

On October 24, 2024, SolarMax Technology, Inc. (the "Company") received a notice from The Nasdaq Stock Market that the Company does not meet the Nasdaq Global Market continued listing requirement Rule 5450(a)(1) that the Company maintain a minimum bid price of $1 per share. The Nasdaq rule provide that the Company has a compliance period of 180 calendar days to regain compliance. This period expires on April 22, 2025. To become compliant, the closing bid price of the Company's common stock must be at least $1 for a minimum of ten consecutive business days. If the Company chooses to implement a reverse stock split to increase the bid price of its common stock, which the Company may consider, it must complete the split no later than ten business days prior to the expiration of the compliance period. In the event the Company does not regain compliance with the rule prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. The Nasdaq rules also provide that if during any compliance period a company's security has a closing bid price of $0.10 or less for ten consecutive trading days, the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that security.

The notice from Nasdaq described in the preceding paragraph is in addition to the previously announced notice from the Nasdaq Stock Market of the failure of the Company to maintain a minimum market value of listed securities of $50,000,000.

The Company may consider applying for a transfer from the Nasdaq Global Market to the Nasdaq Capital Market if it meets the continued listing requirements of the Nasdaq Capital Market.