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- Delisting (new) — Company received Nasdaq deficiency notices for failing to meet minimum bid price and market value listing requirements.
Research Frontiers receives Nasdaq delisting warnings for bid price and market value failures
Filed June 5, 2026 · Period ending June 2, 2026 · ~1 min read
Key Changes
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Stock failed to maintain $1.00 minimum bid price for 30 consecutive days (April 15-June 1, 2026). Company has until November 30, 2026 to regain compliance by closing above $1.00 for ten straight days.
Item 3.01 verify on EDGAR → -
high
Market value fell below required $35 million threshold for 30 consecutive days. Company also fails alternative listing standards for stockholders' equity and net income, giving it 180 days to restore $35M valuation.
Item 3.01 verify on EDGAR → -
high
Management plans to regain compliance through improved market performance rather than reverse stock split, but acknowledges no assurance of success within the compliance period.
Item 3.01 verify on EDGAR →
Summary
Research Frontiers disclosed it received two deficiency notices from Nasdaq on June 2, 2026, putting the company at risk of delisting from the Nasdaq Capital Market. The stock has traded below $1.00 for an extended period and the company's total market capitalization has fallen below the required $35 million threshold.
The company also fails to meet alternative listing standards based on stockholders' equity or profitability. For retail investors, this represents a critical juncture. Delisting would force the stock to trade over-the-counter, typically resulting in reduced liquidity, wider bid-ask spreads, and diminished institutional interest.
The company has 180 days to remedy both deficiencies, but management's acknowledgment that there is "no assurance" of compliance suggests meaningful uncertainty about the path forward. Watch whether the stock can sustain a move above $1.00 in coming weeks and whether any business developments or partnerships emerge that could credibly restore market confidence and valuation above $35 million. The company's stated preference to avoid a reverse split is investor-friendly but leaves organic recovery as the only path to compliance.
Section-by-Section Diff
Event · Item 3.01 — Notice of Delisting or Failure to Satisfy a Continued Listing Rule
REFR received Nasdaq deficiency notices for failing minimum bid price ($1.00) and market value ($35M) requirements; has 180 days to regain compliance.
Added in current filing · verify on EDGAR →
The first notification letter advised the Company that, based upon the closing bid price of the Company’s common stock for the 30 consecutive business days from April 15, 2026 to June 1, 2026, the Company no longer satisfies the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a) (2).
Research Frontiers received notice from Nasdaq on June 2, 2026 that its stock failed to maintain the required $1.00 minimum bid price for 30 consecutive business days. The company has until November 30, 2026 (180 days) to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. The stock continues to trade on Nasdaq Capital Market under symbol REFR during the compliance period.
Added in current filing · verify on EDGAR →
The second notification letter advised the Company that, based upon Nasdaq’s review of the Company’s Market Value of Listed Securities (“MVLS”) for the 30 consecutive business days from April 20, 2026 to June 1, 2026, the Company no longer satisfies the $35 million minimum MVLS requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(b) (2). The notification letter also noted that the Company does not currently meet the alternative continued listing standards under Nasdaq Listing Rules 5550(b) (1) and 5550(b) (3), relating to minimum stockholders’ equity and net income from continuing operations, respectively.
Research Frontiers also failed to meet Nasdaq's $35 million minimum market value of listed securities requirement for 30 consecutive business days. Additionally, the company does not currently qualify under alternative listing standards related to stockholders' equity or net income from continuing operations. The company has 180 days to achieve a market value of at least $35 million for ten consecutive business days.
Added in current filing · verify on EDGAR →
The Company’s objective is to regain compliance through improved market valuation and bid-price performance, and the Company does not currently intend to effect a reverse stock split for the purpose of regaining compliance. However, there can be no assurance that the Company will regain compliance with either requirement within the applicable compliance period, or at all, or that the Company will otherwise remain in compliance with the other Nasdaq continued listing standards.
The company plans to regain compliance through improved market performance rather than a reverse stock split. Management acknowledges uncertainty about whether compliance will be achieved within the 180-day period or at all, and notes potential risk of failing to maintain other Nasdaq listing standards.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 8, 2026 · How we verify