Fremont, California, USA, October 27th / PRNewswire / -- Socket Mobile, Inc. (Nasdaq ticker: SCKT) Today, the company announced that its board of directors has approved a plan to voluntarily delist its common shares from the Nasdaq capital market and transfer its stock quotes to the OTCID market operated by OTC Markets Group Inc.

The company expects that after the delisting from NASDAQ takes effect, its common shares will continue to be quoted on the OTCID market under the current stock code SCKT, provided that all applicable requirements and arrangements are met.

Reason for transfer to another board

The board of directors stated that the decision to transfer to the OTCID market was made after a comprehensive assessment of the company's strategic alternatives, market value, and operating costs. The board believes that the legal, accounting, compliance, and listing fees required to maintain a NASDAQ listing are considerable, and compared to the benefits it brings, they are no longer the best use of the company's capital.

By transitioning to the OTCID market, the company expects to significantly reduce administrative and regulatory burdens, as well as the dispersion of management resources. This will allow for the reallocation of critical capital back to core product development, operational execution, and long-term business objectives.

The company stated that it has received a written confirmation from OTC Markets Group Inc, confirming that they have met the qualifications to settle in the market quotation of OTCID.

Nasdaq Compliance Status and Program Timeline

The company currently does not meet the continuous listing requirements of NASDAQ Rule 5550(b)(1), which stipulates that shareholders' equity must be at least $2.5 million; the company has previously submitted a compliance plan to NASDAQ's listing qualification department. The company stated that, after evaluating market conditions and the costs required to maintain compliance, the board of directors believes that transitioning to the OTCID market is in the best interest of the company and its shareholders.

In accordance with the revised 1934 Securities Exchange Act, NASDAQ Listing Rule 5840(j), and Rule 12d2-2(c), the company has submitted a written notice to NASDAQ ( Nasdaq ) indicating its intention to voluntarily delist from the exchange. The anticipated procedural arrangements for the company are as follows:

• Notified NASDAQ and made public disclosure: A written notice has been submitted to NASDAQ, and this press release is issued in conjunction with that notification on October 27, 2026. The company will also publish the notice on its website at the address https :// www.socketmobile.com / knowledge-center / news-updates.
• Submit Form 25: The company plans to submit Form 25 (a delisting and/or cancellation of registration notice issued under Section 12(b) of the Securities Exchange Act) to the U.S. Securities and Exchange Commission (SEC) around November 9, 2026, provided that the applicable requirements are met.
• Estimated delisting effective date: The delisting from the NASDAQ capital market is expected to take effect around November 19, 2026, which is 10 calendar days after the submission of Form. NASDAQ's regular trading is expected to cease at the end of the regular trading session on November 18.
• Estimated start date: The company's common shares are expected to begin trading on the OTCID market on around November 19, 2026, under the ticker symbol SCKT.

The company stated that transitioning to the OTCID market will not affect its business operations, customer commitments, or product delivery timelines. The company also intends to continue submitting periodic reports to SEC in accordance with the applicable rules of the Securities Exchange Act, including 10-K, 10-Q, and 8-K forms.

Regarding Socket Mobile, Inc.

Socket Mobile is a leading provider of data collection and transmission solutions designed to enhance employees' mobile productivity. The company's revenue primarily comes from the deployment of third-party barcode applications that integrate Socket Mobile's wireless barcode scanners and contactless readers. Its main sources of income come from mobile applications serving professional retail, field services, digital identity, transportation, and manufacturing markets. Socket Mobile has a network of thousands of developers who use its software development tools to add more complex data collection functions to mobile applications. Socket Mobile is headquartered in Fremont, California, and can be contacted by calling +1-510-933-3000 or visiting www.socketmobile.com. Follow Socket Mobile on LinkedIn and Twitter to get the latest news and updates.

Forward-looking Statements

This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Such forward-looking statements include, but are not limited to, statements regarding the expected delisting date of the company's common stock and the continued listing of its common stock on the OTCID market. Such statements involve risks and uncertainties, and actual results may differ significantly from those anticipated in the forward-looking statements due to a variety of factors, including, but not limited to, the timing of regulatory proceedings, actions by third parties (including NASDAQ, SEC, and brokerage traders), and other risks described in the company's most recent 10-K and 10-Q reports filed with the U.S. Securities and Exchange Commission.

Socket Mobile Investor Contact:

Lynn Zhao

Socket Mobile is a registered trademark of Socket Mobile. All other trademarks and product names mentioned in this text may belong to their respective owners. © 2026 Socket Mobile, Inc. All rights reserved.