Maison Solutions receives Nasdaq notice for late annual report

What happened

Maison Solutions Inc. (Nasdaq: MSS), a retail grocery store company based in Monterey Park, California, disclosed in an 8-K filing that it received a letter from Nasdaq on August 20, 2026, notifying the company that it is not in compliance with Nasdaq Listing Rule 5250(c)(1).

The rule requires listed companies to timely file annual and interim reports with the SEC. The company has not filed its Form 10-K for the fiscal year ended April 30, 2026.

The notice has no immediate effect on trading. The company's Class A common stock continues to trade on The Nasdaq Capital Market under the symbol "MSS."

In the filing, the company stated it is working to complete the Form 10-K and intends to submit a compliance plan to Nasdaq within the required 60-day period.

The company also issued a press release on August 25, 2026, announcing the receipt of the letter. The press release was furnished as an exhibit to the 8-K.

Trading data shows the stock closed at $1.63 on August 25, up 10.14% from the previous close of $1.48, with volume of 39,107,631 shares, approximately 17 times its average volume.

The filing

The company filed a Form 8-K with items 3.01 and 7.01. Item 3.01 requires companies to disclose receipt of a delisting notice or failure to satisfy a continued listing rule. Item 7.01 is used for Regulation FD disclosures, here the company's press release about the notification.

The Form 8-K was signed by CEO John Xu and dated August 25, 2026.

What this means

A Form 8-K is a current report that companies file with the SEC to announce major events that shareholders should know about. Item 3.01 specifically covers notices from exchanges about listing deficiencies.

Here, Nasdaq told the company it did not meet the continued listing requirement because the annual report (Form 10-K) for the fiscal year ended April 30, 2026 was not filed on time.

The company now has until October 19, 2026 to submit a plan to regain compliance. If Nasdaq accepts the plan, it can grant an exception of up to 180 days from the original due date, which would be until February 9, 2027. If the plan is not accepted, the company can appeal to a Nasdaq Hearings Panel.

A Form 10-K is the annual report that public companies must file with the SEC, containing audited financial statements and a management discussion of results. Failing to file it on time triggers Nasdaq's deficiency process.

The press release furnished under Item 7.01 is considered "furnished" rather than "filed," which limits liability under securities laws.

The stock's rise on heavy volume is notable, but the filing does not explain why the price increased. It may reflect investor speculation, but the filing itself provides no reason for the move.