Alt5 Sigma, Trump-backed crypto partner, faces Nasdaq delisting after missing financial report deadline.
Nasdaq notified Alt5 Sigma that it no longer meets listing requirements after the company failed to file its third-quarter financial report (Form 10-Q) for the period ending September 27, 2025. The company, which is a partner in the Trump family's World Liberty Financial crypto venture, received the "expected" non-compliance letter on December 2, 2025, and has until January 20, 2026, to submit a plan to regain compliance. An extension of up to 180 calendar days may be granted if the plan is approved.
Details on the missed report:
Reason for delay: Alt5 Sigma stated the delay is related to audit matters and the independent accounting firm. It had previously filed a Notification of Late Filing on November 12, 2025.
Auditor resignation: The company told the SEC that its independent accountant, Hudgens CPA, resigned on November 21, 2025. However, according to Forbes, the auditor claims he informed Alt5 Sigma he would be stepping down before June 30.
Governance issues: The company has also faced scrutiny for potential discrepancies in the reporting of its CEO's suspension. An internal email from September 4 indicated the CEO was on leave, while a later SEC filing stated the suspension was effective October 16.
Stock price information (as of December 3, 2025):
Last price: $1.59
Last close price: $1.56
Last price change: +$0.03 (+1.92%)
52-week range: $1.49 - $10.95
Stock price performance since Trump venture announced: The stock has dropped significantly since the World Liberty Financial deal was announced.
Market Impact:
The non-compliance letter does not immediately impact the trading of Alt5 Sigma's shares on Nasdaq.
An indicator reflecting the non-compliance has been posted on Nasdaq's market data dissemination network.