Summary by Futu AI
SinglePoint Inc. has entered into a material definitive agreement with Bucktown Capital, LLC on June 18, 2024, involving the partitioning and exchange of a promissory note for shares of common stock. The agreement resulted in the reduction of the outstanding balance of the original note by approximately $133,912 and the issuance of 1,077,851 shares to Bucktown Capital. Concurrently, SinglePoint faces delisting challenges from the Cboe BZX Exchange due to non-compliance with several listing standards, including minimum bid price, timely filing of financial reports, and minimum market value. The company received a delisting notice on June 18, 2024, with suspension of trading set for June 27, 2024. SinglePoint has requested a hearing before a Hearings Panel to seek an extension for compliance and has taken steps to regain compliance with the exchange's listing requirements. The outcome of these efforts and the hearing is uncertain.