Nocera, Inc. announced it has acquired a controlling interest in Taiwan-based QMAX Technology CO., LTD. through a Variable Interest Entity (VIE) structure for $408,000 in stock. Separately, the company disclosed it received a notice of default on an $8 million senior secured convertible note, resulting in the seizure of approximately $4.66 million in collateral. The company also announced it has regained compliance with Nasdaq's minimum bid price requirement.
Key Details
- QMAX Acquisition: On July 28, 2026, Nocera acquired control over a 30% equity interest in QMAX by issuing 300,000 shares of its common stock, valued at an aggregate of $408,000 ($1.36 per share), with no cash consideration.
- Note Default: The company defaulted on an $8 million convertible note from November 2025 by failing to make required payments. As a result, the noteholder seized and applied collateral valued at approximately $4,658,686, leaving an asserted remaining balance of $1,370,809.
- Nasdaq Compliance: On July 28, 2026, Nocera received notice from Nasdaq confirming it has regained compliance with the $1.00 minimum bid price requirement, and the matter is now closed.