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US SEC Trading Suspension Halt Orders — March 30, 2026

USA Trading Suspensions

7 high priority7 total filings analysed

Executive Summary

Across 7 US-listed companies facing trading suspensions or delisting risks in late March 2026, themes center on Nasdaq $1 minimum bid price violations (4/7 filings), financial metric deficiencies (2/7), and one voluntary delist post-SPAC merger, highlighting small-cap liquidity and compliance struggles. Positive resolutions emerged in Vine Hill Capital's 92.6% merger approval leading to relisting as Odysseus, Sky Quarry's post-reverse-split compliance regain, and Triller's conditional reinstatement path, contrasting with ongoing risks for Dyadic, Greenlane, InMed, and Skillsoft. No explicit YoY/QoQ financial trends available, but repeated non-compliance periods (e.g., Sky Quarry's two 180-day extensions expiring Sep 2025/Mar 2026) signal deteriorating bid prices over 12+ months. Mixed sentiment prevails (3 negative, 2 mixed, 1 positive, 1 negative on NYSE), with materiality high (8-10/10), implying imminent trading halts or delistings for non-compliant firms, pressuring valuations and liquidity. Portfolio-level pattern: reverse splits in 3/7 (Sky Quarry 1:8, Greenlane cumulative 1:8250) as desperate compliance tools, often failing long-term. Market implication: short-term volatility spikes around Mar 31 deadlines, potential OTC trading shifts reducing institutional access.

Tracking the trend? Catch up on the prior US SEC Trading Suspension Halt Orders digest from March 25, 2026.

Investment Signals(11)

  • 92.6% shareholder approval (22M For vs 1.8M Against) for CoinShares merger, voluntary delist of VCICU/VCIC/VCICW Mar 31 followed by Odysseus relisting on Nasdaq

  • Sky Quarry(BULLISH)

    Regained $1 bid compliance for 10 consecutive days post 1-for-8 reverse split Mar 15, closing delisting determination notice issued Mar 24 after prior 180-day periods expired Sep 2025/Mar 2026

  • Nasdaq Listing Council granted conditional reinstatement for ILLR/ILLRW upon 2025 10-K filing by Mar 31, curing prior delinquencies filed Jan 2026 after suspension since Dec 30 2025

  • Quorum at 81.3% voting power, all proposals passed including NTA (23.7M For), F-4 effective Mar 16, merger close Mar 31 pending Jersey approvals

  • Sky Quarry(BULLISH)

    Avoided Mar 31 trading suspension via reverse split compliance, outperforming peers like Greenlane/InMed still in violation

  • Overcame Oct/Nov 2025 delisting notices and Dec 2025 panel denial, positioning for trading resumption post Mar 31 filing

  • Dyadic International(NEUTRAL TO BULLISH)

    No immediate listing effect from Mar 27 Nasdaq notice, 45-day compliance plan window to May 11 with potential extension to Sep 23

  • 180-day compliance period from Mar 27 notice with no trading suspension, exploring reverse split to cure $1 bid violation over Feb 11-Mar 26

  • 18-month NYSE cure period from Mar 26 notice with business plan due within 45 days (May 10), stock continues trading

  • Greenlane Holdings(NEUTRAL TO BEARISH)

    Timely hearing request by Apr 1 stays delisting despite cumulative 1:8250 reverse splits disqualifying 180-day period

  • Triller vs Peers(RELATIVE BULLISH)

    Filed overdue 2024 10-K/Q1-Q3 2025 10-Qs in Jan 2026, unlike ongoing deficiencies in Dyadic/Skillsoft

Risk Flags(8)

  • Nasdaq notice Mar 27 for < $2.5M equity/$35M market value/$0.5M net income, plan due May 11 or face delisting by Sep 23; concurrent $1 bid non-compliance to Jun 17

  • $1 bid failure Feb 10-Mar 24, ineligible for 180-day cure due to 1:11 (Aug 2024) + 1:750 (Jun 2025) reverses (cumulative >250:1), hearing uncertain

  • Closing bid < $1 for 30 days Feb 11-Mar 26, 180-day cure but appeal suspends trading if needed post-period

  • 30-day avg market cap and Q4 2025 equity both < $50M per Section 802.01B, quarterly reviews during 18-month cure

  • Conditional reinstatement hinges on Mar 31 2025 10-K (or 12b-25), prior SEC stay denied Dec 31 2025, immediate delist no appeal if missed

  • Dyadic vs Peers[RELATIVE HIGH RISK]

    Dual non-compliance ($1 bid + equity), shorter compliance timeline vs InMed's 180 days

  • Cumulative 1:8250 ratio bars standard cure, highest among peers (Sky Quarry 1:8 only)

  • Mar 25 2026 avg < $50M implies YoY deterioration from prior periods, business plan scrutiny within 45 days

Opportunities(8)

  • Vine Hill Merger Close(OPPORTUNITY)

    92.6% approval, F-4 effective Mar 16, close Mar 31 unlocks CoinShares listing as Odysseus on Nasdaq, arb play on delist-relist

  • Sky Quarry Compliance(TURNAROUND OPPORTUNITY)

    Post-Mar 30 notice closure, trading resumes uninterrupted, reverse split stabilized bid price outperforming Greenlane/InMed

  • Triller Reinstatement(CATALYST OPPORTUNITY)

    File 10-K by Mar 31 to resume trading suspended since Dec 2025, cured prior Qs, potential 100%+ pop on listing

  • InMed Cure Period(RECOVERY OPPORTUNITY)

    180+ potential 180 days from Mar 27 to boost $1 bid via reverse split/operations, no immediate halt vs Greenlane

  • Dyadic Equity Path(COMPLIANCE OPPORTUNITY)

    Target $2.5M equity compliance by May 11 plan, extension to Sep 23, dual $1 bid deadline Jun 17 offers structured upside

  • Skillsoft Cure Window(LONG-SHOT OPPORTUNITY)

    18-month NYSE period with plan by May 10, continued trading allows turnaround via cap/equity rebuild

  • Greenlane Hearing(APPEAL UPSIDE)

    Apr 1 request stays delisting, potential panel discretion despite split history for bid price rebound

  • Cross-Portfolio Short(SHORT OPPORTUNITY)

    4/7 in $1 bid distress (Greenlane/Dyadic/InMed/Sky prior), target delist/OTC shifts compressing liquidity

Sector Themes(5)

  • $1 Bid Price Violations Dominant(BEARISH THEME)

    4/7 filings (Greenlane, Sky Quarry prior, InMed, Dyadic concurrent) below Nasdaq 5550(a)(2) for 30 days, avg violation span Feb-Mar 2026, risks OTC downgrade

  • Reverse Splits as Compliance Tool(MIXED THEME)

    3/7 (Sky Quarry 1:8 success Mar 15, Greenlane 1:8250 failure disqualification, InMed considering), cumulative ratios signal desperation post 2024-2025 non-compliance

  • Extended Cure Periods Varied(STABILIZING THEME)

    180-day Nasdaq windows standard (InMed/Dyadic/Sky prior) but denied for Greenlane splits; NYSE 18-month for Skillsoft, no immediate halts in 6/7

  • Filing Delinquencies Resolved(RECOVERY THEME)

    Triller cured 2024/Q1-Q3 2025 via Jan filings post Dec suspension, contrasts Dyadic/Skillsoft financial weaknesses

  • Voluntary vs Forced Delists(BULLISH OUTLIER)

    Vine Hill voluntary post-merger (92.6% approval) leads to relist, vs forced risks in 5/7, highlights SPAC path for small-cap survival

Watch List(7)

Filing Analyses(7)
Vine Hill Capital Investment Corp.8-Kpositivemateriality 9/10

30-03-2026

Vine Hill Capital Investment Corp. shareholders overwhelmingly approved the business combination with CoinShares International Limited at the March 27, 2026 extraordinary general meeting, with 92.6% of votes cast in favor of the Business Combination Proposal (22,095,264 For vs. 1,764,990 Against). The company notified Nasdaq on March 24, 2026, of its intent to voluntarily delist its units (VCICU), Class A ordinary shares (VCIC), and warrants (VCICW) following the merger closing, with Odysseus Holdings Limited's ordinary shares and warrants expected to list on Nasdaq thereafter. The transaction is anticipated to close on March 31, 2026, subject to customary conditions including Jersey regulatory approvals.

  • ·Shareholder Meeting quorum: holders of 16,526,920 Class A and 7,333,334 Class B ordinary shares present, representing 81.342% of voting power as of record date March 2, 2026.
  • ·All Shareholder Proposals approved, including SPAC Merger Proposal (identical vote to Business Combination), Organizational Document Proposals (some with 150,000 abstentions), and NTA Proposal (23,685,207 For, 25,047 Against, 150,000 Abstain).
  • ·Registration Statement on Form F-4 (No. 333-293885) declared effective March 16, 2026; Proxy Statement mailed same day.
  • ·Merger structure: SPAC merges into SPAC Merger Sub (Odysseus (Cayman) Limited) on March 30, 2026, followed by scheme of arrangement acquiring CoinShares on March 31, 2026.
DYADIC INTERNATIONAL INC8-Knegativemateriality 9/10

30-03-2026

On March 27, 2026, Dyadic International, Inc. received a Nasdaq deficiency notice for failing to comply with Continued Listing Rule 5550(b), requiring at least $2.5 million in stockholders’ equity, $35 million in market value of listed securities, or $500,000 in net income from continuing operations; the notice has no immediate listing effect but mandates a compliance plan by May 11, 2026, with potential extension to September 23, 2026. The company plans to pursue compliance, likely via the equity threshold, amid ongoing non-compliance with the $1.00 minimum bid price rule (deadline June 17, 2026), either of which could lead to delisting if unresolved.

  • ·The deficiency notice has no immediate effect on the listing of DYAI common stock on Nasdaq Capital Market.
  • ·Company remains out of compliance with separate minimum bid price requirement, which is unrelated to the new notice.
Triller Group Inc.8-Kmixedmateriality 9/10

30-03-2026

On March 24, 2026, the Nasdaq Listing Council modified a prior delisting decision by a Nasdaq Hearings Panel, providing Triller Group Inc. with conditional reinstatement of its Nasdaq listing for Common Stock (ILLR) and Warrants (ILLRW). Trading will resume the day after filing the overdue 2025 Form 10-K by March 31, 2026 (or via SEC Rule 12b-25 extension), but failure to file will trigger immediate delisting without appeal. The company has cured prior delinquencies by filing its 2024 Form 10-K and Q1-Q3 2025 Forms 10-Q in late January 2026, though trading remains suspended since December 30, 2025.

  • ·Original delisting notices issued October 14, 2025, and November 17, 2025, due to non-compliance with Nasdaq Listing Rule 5250(c)(1).
  • ·Nasdaq Hearings Panel hearing held November 25, 2025; extension request denied December 26, 2025.
  • ·SEC denied company's emergency stay application on December 31, 2025.
  • ·Company appealed to Listing Council on January 9, 2026.
Sky Quarry Inc.8-Kmixedmateriality 8/10

30-03-2026

Sky Quarry Inc. received a Nasdaq notice on March 24, 2026, of delisting determination due to prolonged non-compliance with the $1.00 minimum bid price rule under Nasdaq Listing Rule 5550(a)(2), with trading suspension scheduled for March 31, 2026. However, following a 1-for-8 reverse stock split on March 15, 2026, the company regained compliance by maintaining the minimum bid price for 10 consecutive business days, receiving a compliance notice on March 30, 2026, closing the matter. This resolution avoids delisting after prior non-compliance periods expiring in September 2025 and March 2026.

  • ·Initial non-compliance notification: March 28, 2025
  • ·First 180-day compliance period expired: September 24, 2025
  • ·Second 180-day compliance period expired: March 23, 2026
  • ·Reverse stock split effected: March 15, 2026
  • ·Reverse split-adjusted trading began: March 16, 2026
  • ·Delisting notice issued: March 24, 2026
  • ·Compliance notice received: March 30, 2026
  • ·Planned trading suspension: March 31, 2026 (averted)
Greenlane Holdings, Inc.8-Knegativemateriality 10/10

30-03-2026

Greenlane Holdings, Inc. received a Nasdaq notification letter on March 25, 2026, indicating failure to satisfy the $1.00 minimum bid price rule (Nasdaq Listing Rule 5550(a)(2)) over 30 consecutive business days from February 10 to March 24, 2026. Due to prior reverse stock splits—a 1-for-11 on August 5, 2024, and 1-for-750 on June 27, 2025, resulting in a cumulative 1-for-8,250 ratio—the company is ineligible for a 180-day compliance period. The company plans to request a hearing by April 1, 2026, to appeal, staying delisting pending the Panel's decision, though success is uncertain.

  • ·Nasdaq Listing Rule 5810(c)(3)(A)(iv) denies compliance period due to reverse splits with cumulative ratio of 250:1 or more over prior two years.
  • ·Company effected 1-for-11 reverse stock split on August 5, 2024, and 1-for-750 on June 27, 2025.
  • ·Timely hearing request by April 1, 2026, automatically stays delisting action.
InMed Pharmaceuticals Inc.8-Knegativemateriality 9/10

30-03-2026

InMed Pharmaceuticals Inc. received a Nasdaq notice on March 27, 2026, indicating its common shares' closing bid price fell below the $1.00 minimum for 30 consecutive trading days from February 11 to March 26, 2026, violating Listing Rule 5550(a)(2). The company has 180 calendar days to regain compliance with no immediate trading suspension, and may qualify for an additional 180 days if it meets other criteria, though success is not assured. InMed intends to monitor its share price and explore options like a reverse stock split to cure the deficiency.

  • ·Shares continue to trade on The Nasdaq Capital Market under symbol 'INM' with no immediate delisting impact.
  • ·If non-compliant after grace periods, Nasdaq may delist shares; company can appeal to a Hearings Panel, but trading would be suspended pending appeal.
  • ·Press release announcing the notice attached as Exhibit 99.1.
Skillsoft Corp.8-Knegativemateriality 9/10

30-03-2026

Skillsoft Corp. received a notice from the NYSE on March 26, 2026, stating it is not in compliance with Section 802.01B due to its 30 trading-day average market capitalization as of March 25, 2026, and stockholders' equity as of October 31, 2025, both being less than $50 million. While the company has an 18-month cure period, subject to NYSE approval of its business plan to be submitted within 45 days, and its Class A common stock (SKIL) will continue trading on the NYSE during this time, the noncompliance highlights significant financial weaknesses.

  • ·NYSE Section 802.01B noncompliance
  • ·Business plan submission within 45 calendar days from March 26, 2026
  • ·Subject to quarterly NYSE review during cure period
  • ·Press release dated March 30, 2026 (Exhibit 99.1)

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US SEC Trading Suspension Halt Orders — March 30, 2026 | Gunpowder Blog