Polar Power, Inc. (POLA) has been granted an extension by Nasdaq to regain compliance with the minimum stockholders' equity requirement. The company was notified of its non-compliance on May 1, 2026, after reporting only $144,000 in stockholders' equity for the year ended December 31, 2025. The company has submitted a compliance plan and now has until October 28, 2026, to resolve the deficiency.
Key Details
- Compliance Deadline: The company has until October 28, 2026, to demonstrate it has regained compliance with Nasdaq Listing Rule 5550(b).
- Deficiency Notice: Nasdaq issued a deficiency letter on May 1, 2026, because the company's reported stockholders' equity of $144,000 as of December 31, 2025, was below the minimum requirement.
- Compliance Plan: The company submitted a plan to Nasdaq on June 15, 2026, which includes planned financing activities and an internal restructuring to increase its stockholders' equity.
- Delisting Risk: Failure to evidence compliance by the deadline, or in its next periodic report, could result in the company's securities being delisted from Nasdaq.