The repeated adjournments due to lack of quorum are a red flag for governance and potential delisting risk. Monitor for any Nasdaq deficiency notice or further delays. If quorum is not achieved by May 29, the company may face additional costs or legal complications.
Price Chart
Executive Summary
iSpecimen Inc. filed a DEFA14A urging shareholders to vote ahead of its repeatedly adjourned 2025 Annual Meeting, now set for May 29, 2026, due to a persistent lack of quorum. The ballot includes election of one director, ratification of auditor Bush & Associates CPA LLC, and approval of the 2025 Stock Incentive Plan. The inability to achieve quorum for over five months signals severe shareholder disengagement and raises governance concerns for this micro-cap company.
Key Financial Metrics
Key Facts
- Annual Meeting originally scheduled for December 31, 2025, has been adjourned multiple times due to lack of quorum; now set for May 29, 2026.
- Management sent a letter on May 18, 2026, pleading for votes to avoid further expenses.
- Items on ballot: election of director Arphing (Tommy) Lee for a 3-year term, ratification of Bush & Associates CPA LLC as auditor, and approval of the 2025 Stock Incentive Plan.
- Record date for voting is November 3, 2025; even sold shareholders retain voting rights.
- Market cap is approximately $3 million, indicating a micro-cap with low liquidity and shareholder apathy.
Financial Impact
No specific financial figures provided; the ongoing inability to hold the annual meeting may delay critical governance actions and increase administrative costs.
Risk Factors
- Failure to achieve quorum could prevent approval of the 2025 Stock Incentive Plan, potentially impacting employee retention.
- Continued governance issues may attract SEC scrutiny or Nasdaq non-compliance actions.
- Shareholder apathy could lead to further meeting delays or inability to conduct essential business.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEFA14A Filing (Primary) | 0001213900-26-058184 |
| Document: 0001213900-26-058184-index-headers.html | 0001213900-26-058184 |
| Document: 0001213900-26-058184-index.html | 0001213900-26-058184 |
| Document: 0001213900-26-058184.txt | 0001213900-26-058184 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 10, 2026 6w ago | 8-K | $1.47 | awaiting T+60 | — | $0.8400 (+42.86%) |
Sep 4, 2026 7w ago | 8-K | $1.59 | awaiting T+60 | — | $0.8400 (−47.17%) |
Aug 14, 2026 10w ago | 8-K | $2.15 | awaiting T+60 | — | $0.8400 (+60.93%) |
Aug 7, 2026 11w ago | 8-K | $2.24 | awaiting T+60 | — | $0.8400 (+62.50%) |
Aug 7, 2026 11w ago | 424B4 | $2.22 | awaiting T+60 | — | $0.8400 (+62.16%) |
Jul 31, 2026 12w ago | EFFECT | $1.89 $0.8398 | ▲ +55.57% | ▲ +58.02% | $0.8400 (+55.56%) |
Jul 16, 2026 14w ago | S-1/A | $2.10 $1.08 | ▲ +48.57% | ▲ +53.25% | $0.8400 (+60.00%) |
Jul 14, 2026 14w ago | 8-K | $2.23 $1.09 | ▼ −51.12% | ▼ −53.65% | $0.8400 (−62.33%) |
Jun 18, 2026 18w ago | EFFECT | $2.59 $1.47 | ▲ +43.24% | ▲ +45.14% | $0.8400 (+67.57%) |
Jun 1, 2026 21w ago | 8-K | $3.07 $1.64 | ▲ +46.58% | ▲ +47.70% | $0.8400 (+72.64%) |
US Market Status
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