Orangekloud Technology Inc. (ORKT) received a Staff Delisting Determination Letter from Nasdaq on January 29 2026 after its shares closed below $1 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The letter also noted that a reverse stock split executed earlier in the year disqualified the company from the standard 180‑day cure period, leaving it with no automatic window to regain compliance.
The reverse split, which consolidated 10 shares into one on December 15 2025, was intended to lift the share price above the $1 threshold. However, Nasdaq’s rule changes effective October 2024 prohibit companies that have recently used a reverse split from qualifying for the cure period if the split was used to address a bid‑price deficiency. As a result, Orangekloud must now seek an exception or submit a written compliance plan to regain listing status.
In response, Orangekloud filed a request for an oral hearing before the Nasdaq Hearings Panel and will submit a detailed plan of compliance. The company’s plan outlines a schedule for raising capital, restructuring its balance sheet, and implementing a new pricing strategy for its eMOBIQ® no‑code platform to increase revenue and improve liquidity. If the panel denies the request, the company’s shares will be removed from the Nasdaq Capital Market and will likely move to over‑the‑counter trading, where liquidity and investor access are considerably lower.
Orangekloud is a Singapore‑based technology firm that offers the eMOBIQ® platform, enabling small and medium‑sized enterprises to develop mobile applications without coding. With a market capitalization of approximately $19 million as of February 2026, the company’s valuation is highly sensitive to share‑price movements and regulatory status. The delisting threat underscores the fragility of its market position and the importance of maintaining compliance with exchange rules.
The appeal process gives Orangekloud a temporary reprieve, but the outcome remains uncertain. A successful appeal would allow the company to continue trading on Nasdaq while it implements its compliance plan; a denial would force a transition to OTC markets, potentially eroding investor confidence and reducing trading volume. Investors and analysts will closely monitor the panel’s decision and the company’s progress in meeting Nasdaq’s requirements.
The situation highlights the broader risk that companies with low share prices face when they rely on reverse splits to meet listing standards. Nasdaq’s stricter enforcement aims to protect investors by ensuring that listed companies maintain a minimum bid price and demonstrate ongoing financial viability.
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