{"url_path":"/sec/snal/8-k/2026-07-02/item-3-01","section_key":"item-3-01","section_title":"Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-02","source_url":"https://www.sec.gov/Archives/edgar/data/1886894/0001493152-26-031916-index.html","accession_number":"0001493152-26-031916","cik":"0001886894","ticker":"SNAL","issuer_name":"Snail, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1886894/0001493152-26-031916-index.html","primary_entity_key":"0001886894","primary_entity_name":"Snail, Inc."},"word_count":395,"has_tables":true,"body_markdown":"**Item\n3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**\n\n \n\nOn\nJuly 1, 2026, Snail, Inc. (the “Company”) received written notice (the “Notice”) from the Listing Qualifications\nDepartment of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that Nasdaq had determined to delist the Company’s\nClass A Common Stock, par value $0.0001 per share (the “Class A Common Stock”) from The Nasdaq Capital Market (the “Staff\nDetermination”). The Staff Determination was issued pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iii).\n\n \n\nAs\npreviously disclosed, on December 30, 2025, the Company received written notice from the Nasdaq Listing Qualifications Department that\nfor thirty (30) consecutive business days from November 11, 2025 through December 29, 2025, the Company’s Class A\nCommon Stock did not maintain a minimum closing bid price of $1.00 per share as required by Nasdaq Listing Rule 5550(a)(2) (the “Minimum\nBid Price Requirement”). At that time, the Company was afforded 180 calendar days, or until June 29, 2026, to regain compliance\nwith the Minimum Bid Price Requirement. Additionally, on March 26, 2026, Nasdaq staff notified the Company that it did not comply with\nListing Rule 5550(b), which requires a minimum $2,500,000 stockholders’ equity, $35,000,000 market value of listed securities,\nor $500,000 net income from continuing operations (the “Continued Listing Standards”). The Staff Determination stated that\nthe Company has not regained compliance with the Minimum Bid Price Requirement and is not eligible for a second 180-day period because\nthe Company does not currently comply with the Continued Listing Standards.\n\n \n\nThe Company may request a\nhearing before the Nasdaq Hearings Panel (the “Panel”) to appeal the Staff Determination, pursuant to the procedures set forth\nin the Nasdaq Listing Rule 5800 Series. Unless the Company requests an appeal of the Staff Determination, the Company’s securities\nwill be scheduled for delisting from The Nasdaq Capital Market.\n\n \n\nAccordingly,\nthe Company intends to timely request a hearing before the Panel to appeal the Staff\nDetermination. The hearing request will automatically stay any suspension or delisting action pending\nthe hearing and the expiration of any additional extension period granted by the Panel following the hearing. There can be no\nassurance that the Company would be successful in any appeal or that it will be able to regain compliance with Nasdaq’s listing requirements\nwithin the timeframe that may be provided by the Panel, or at all."}