Company: HSDTW
Filing Date: 2025-06-23
Form Type: 8-K
Source: 0001558370-25-008785
Chunk: 0

Company: Solana Co
Filing Date: 2025-06-23
Form: 8-K
Item: Item 8.01
Chunk 0
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Item 8.01

Other Events.

As previously disclosed, on March 31, 2025, Helius Medical Technologies, Inc. (the “ Company”) received written notice Staff stating that the Company no longer complied with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1) (the “ Stockholders’ Equity Requirement”) for continued listing on The Nasdaq Stock Market LLC because the Company’s stockholders’ equity, as reported in the Company’s Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2024, had fallen below $2.5 million. The notice also indicates that the Company did not meet the alternative compliance standards. On April 1, 2025, the Company received an additional letter from Nasdaq notifying the Company that, following the hearing process, Nasdaq had granted the Company an extension, until June 30, 2025 to regain compliance with the Nasdaq Listing Rules, including the Stockholders’ Equity Requirement. Also, as previously disclosed, on June 6, 2025, the Company completed a public offering for net proceeds of approximately $8.1 million.

To demonstrate compliance with the Continued Listing Standards, the Company is furnishing the attached unaudited interim consolidated balance sheet as of June 17, 2025 which gives effect to the public offering. As reflected in the attached unaudited balance sheet, the Company has stockholders’ equity of at least $2.5 million and therefore believes it satisfies Stockholders’ Equity Requirement. The Company awaits Nasdaq’s formal confirmation that the Company has evidenced compliance with the Stockholders’ Equity Rule and all other applicable criteria for continued listing on The Nasdaq Capital Market.

  Item 9.01      Financial Statements and Exhibits.  

(d) Exhibits

  Exhibit No.      Description                                                               
         99.1      Unaudited Interim Consolidated Balance Sheet, as of June 17, 2025.        
 ─────────────────────────────────────────────────────────────────────────────────────────────
          104      Cover Page Interactive Data File (embedded within Inline XBRL document).  

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                            HELIUS MEDICAL TECHNOLOGIES, INC.                                                        
  Dated: June 23, 2025      By:                                    /