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Healthcare Triangle , Inc. (NASDAQ:HCTI), currently trading at $0.01 and down nearly 99% year-to-date according to InvestingPro data, is facing potential delisting from the Nasdaq Stock Market following a notification from the Nasdaq Listing Qualifications Staff. The company was informed that its securities had a closing bid price of $0.10 or less for ten consecutive trading days, triggering the application of Nasdaq’s Low Priced Stocks Rule. This rule mandates a Staff Delisting Determination if a company’s stock remains below this threshold for the specified period. With a market capitalization of just $3.31 million and an EBITDA of -$4.07 million in the last twelve months, the company faces significant financial challenges.
Previously, on February 26, 2025, Healthcare Triangle received notice for not meeting the Minimum Bid Price Requirement, as its stock price had closed below $1 per share for 30 consecutive business days. The company was given until August 25, 2025, to regain compliance with this requirement.
Further complicating matters, on May 20, 2025, Nasdaq staff issued a notification letter citing public interest concerns. This was due to the issuance of securities through a private placement that resulted in significant shareholder dilution. The securities involved were Series A and Series B Warrants, as previously disclosed in the company’s SEC filings.
Healthcare Triangle has responded to the Nasdaq Hearings Panel, addressing issues related to the Minimum Bid Price Requirement, the Low Priced Stocks Rule, and public interest concerns. The company is exploring various options to regain compliance with Nasdaq’s continued listing requirements. However, there is no assurance that these efforts will be successful. InvestingPro analysis shows the company maintains a current ratio of 3.07, indicating sufficient liquid assets to meet short-term obligations, though its overall financial health score remains weak. Subscribers to InvestingPro can access 10 additional key insights about HCTI’s financial position and market performance.
This information is based on a recent SEC filing by Healthcare Triangle, Inc.
In other recent news, Healthcare Triangle, Inc. has announced several significant developments. The company has appointed David Ayanoglou as the new Chief Financial Officer and Sujatha Ramesh as a Director on the Board. Ayanoglou brings over 22 years of corporate finance experience, while Ramesh, currently the Chief Operating Officer, has over 25 years in technology and financial services. Additionally, Healthcare Triangle has switched its independent registered public accounting firm from M&K CPAS, PLLC to SRCO Professional Corporation for the fiscal year ending December 31, 2025. This decision was made without any disagreements on accounting principles or practices with the former firm.
In a separate development, Healthcare Triangle shareholders approved key proposals at the company’s virtual annual meeting. These included the election of four directors and an amendment to the 2020 stock incentive plan, allowing for automatic increases in the number of shares subject to the plan. The amendment will take effect starting in 2025 and is set to expire in 2030. The appointment of M&K CPAS, PLLC as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024, was also ratified during the meeting. These strategic moves highlight Healthcare Triangle’s focus on strengthening its leadership and corporate governance.
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