Brightline Interactive Gets Nasdaq Delisting Notice Over Sub-$1 Stock

What happened

Brightline Interactive, Inc., a Nevada corporation whose common stock trades on Nasdaq under the ticker BTLN, disclosed in a Form 8-K filed September 11, 2026 that it received a written notification that day from the Listing Qualifications Department of The Nasdaq Stock Market LLC.

According to the filing, Nasdaq staff determined to delist the company's common stock under Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of at least $1.00 per share.

The filing states that the company had already been warned. On March 13, 2026, Brightline received deficiency notices from Nasdaq saying the closing bid price of its common stock had been below $1.00 for 30 consecutive business days. Nasdaq gave the company 180 calendar days, until September 9, 2026, to regain compliance.

The company did not regain compliance by that deadline, and Nasdaq issued the staff determination two days later, on September 11, 2026.

The company's response

Brightline said in the filing that it plans to appeal by timely requesting a hearing before a Nasdaq Hearings Panel. The request must be submitted by 4:00 p.m. Eastern Time on September 18, 2026.

According to the filing, a hearing request stays the suspension of the company's securities and the filing of a Form 25-NSE with the Securities and Exchange Commission until the Hearings Panel issues a written decision. The common stock will remain listed on Nasdaq pending the outcome of the hearing.

The filing also states that there can be no assurance the company will be granted the hearing, that the panel will decide to keep the stock listed, or that the company will be able to show compliance with listing criteria within whatever period the panel might allow.

What this means

The $1.00 minimum bid price rule is a continued listing standard, not a one-time test. A stock must trade at or above $1.00 to stay on Nasdaq. When a company trades under $1.00 for 30 straight business days, Nasdaq issues a deficiency notice and starts a clock — here, 180 calendar days — during which the company can fix the problem, most commonly through a reverse stock split that raises the per-share price.

Brightline ran out that clock on September 9, 2026, because its stock was still trading below $1.00. On the day the 8-K was filed, BTLN closed at $0.91, down 1.19% from the prior close of $0.921, according to the price data. That is consistent with the deficiency the filing describes.

Item 3.01 is the section of Form 8-K reserved for notice of delisting or failure to satisfy a continued listing rule. An 8-K is a current report — a filing a public company must make within four business days of certain material events, so that investors learn about them between quarterly reports rather than months later. Item 3.01 is one of the events that triggers the obligation.

A Form 25-NSE is the filing that actually removes a security from an exchange listing. It can be filed by the exchange or, in some cases, by the company. In this case, the filing says, no Form 25-NSE will be filed while the appeal is pending.

What happens next is set out in the filing itself: Brightline must request a hearing by September 18, 2026. If it does, the delisting is paused and the stock keeps trading on Nasdaq until a Hearings Panel issues a written decision. The panel can reinstate the listing, often with conditions, or let the delisting proceed. If the delisting does go through, BTLN would move off Nasdaq — typically to the over-the-counter market, where shares trade between brokers rather than on a listed exchange.

The company describes itself in the filing by its state of incorporation and registration details; the sources here do not describe its business operations, and this article does not speculate about them.