SCWorx Corp. (WORX) stock prices were up by 2.61% as of the market closing on June 1st, 2021, bringing the price per share up to USD$1.57 at the end of the trading day. Subsequent pre-market fluctuations saw the stock rise by a significant 15.92%, bringing it up to USD$1.82.
Regaining Nasdaq Compliance
The company announced on June 1st, 2021 that it had regained compliance with the continued listing requirements of the Nasdaq Stock Market. Nasdaq had sent a letter to WORX stating the regaining of compliance with its continued listing requirements for periodic reporting on May 25th, 2021, as a result of the filing of WORX’s Annual Report on Form 10-K for the fiscal year ended December 31st, 2020.
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Annual Meeting Requirement Met
May 27th, 2021 had seen the company receive a letter from Nasdaq that indicated the regaining of compliance with the annual meeting requirement after the company successfully completed its Special Meeting instead of the Annual Meeting of Stockholders on May 24th, 2021. To this end, all deficiencies of which the company had been notified of have been corrected, with the matters being considered closed by Nasdaq. The company’s common stock has continued to be listed and traded on Nasdaq under the ticker symbol WORX.
Leadership Changes
The company also recently announced the promotion of WORX President and COO to the role of Chief Executive officer of the company. Tim Hannibal had joined the company as CRO in the latter half of 2016 with a wealth of relevant experience and expertise behind him. In regard to the regaining of Nasdaq compliance, Tim Hannibal stated the company’s drive to execute their strategy for growth over the fiscal year 2021.
Scope of WORX
With the last 10 to 15 years having seen healthcare technology evolve in complexity and cost, the company bemoaned the failure of the technological status quo with a disparate network of objectives as having interfered with the provision of advancements as previously promised. Nevertheless, WORX seeks to right these healthcare woes with the delivery of a powerful solution that will help hospitals extract the maximum possible benefit from their technology. WORX is keen to help medical institutions realize their originally designated efficiency, accuracy, and cost savings.
Future Outlook for WORX
Having come out of its troublesome stretch, WORX is poised to capitalize on the opportunities presented to it with the regaining of Nasdaq compliance. The company is keen to carry on the trajectory of success through to the end of the fiscal year and beyond. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
