Netcapital regains Nasdaq bid price compliance; auditor replaced, 10-K still delinquent
Netcapital regained compliance with the Nasdaq minimum bid price rule after its closing bid price was at or above $1.00 for 10 consecutive business days, from September 23 through October 6, 2026, and Nasdaq closed the matter. The company engaged Adeptus Partners, LLC to re-audit fiscal years 2022 through 2026 because its previously issued financial statements for fiscal 2022 through 2025 should no longer be relied upon, and it has not finished evaluating the corrections that may be required. The company remains out of compliance with Nasdaq Listing Rule 5250(c)(1) for not filing its late annual and quarterly reports, so listing risk on that matter continues until a plan is accepted.
Key points
- Nasdaq closed the bid price deficiency after the closing bid price was at or above $1.00 for 10 consecutive business days, September 23 through October 6, 2026.
- Still out of compliance with Rule 5250(c)(1) for not filing the Form 10-K for fiscal year ended April 30, 2026 or the Form 10-Q for quarter ended July 31, 2026; plan due October 23, 2026.
- Adeptus Partners, LLC engaged, with the Audit Committee approving on October 8, 2026, succeeding Fruci & Associates II, PLLC, which resigned effective August 12, 2026.
- Financial statements for fiscal years 2022 through 2025 should no longer be relied upon; the scope of any restatement has not been determined.
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 14, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.