Key Highlights

● A Form 25 dated 2 June 2026 records the removal of EPWK's Class A ordinary shares from listing and registration on Nasdaq; the stock now trades over the counter as EPWKF.

● The exit followed a 4 November 2025 bid-price notice, a 40-for-1 share consolidation effective 17 November 2025, and a 24 November 2025 notice for failing to file the Form 20-F for the year ended 30 June 2025.

● An amended Form F-1 dated 14 April 2026 reported Revenue of US$27.84 million and a net loss of US$10.44 million for the year ended 30 June 2025.

● A restructured private Placement of 284 million shares at US$0.05 replaced an earlier plan for 10 million shares at US$1.42, and shareholders approved a Share Capital increase and reorganisation in May 2026.

EPWK Holdings Ltd. (OTC:EPWKF) is rebuilding its Capital Structure because the company has moved away from the Nasdaq Stock Market and now trades over the counter under the code EPWKF. A Form 25 dated 2 June 2026 records that its Class A ordinary shares were being removed from listing and registration on Nasdaq.

Market data updated on 5 October 2026 shows the stock quoted on OTC Markets at a price of US$0.0026, with a Market Capitalisation of roughly US$0.0096 million.

What the Business Does

EPWK is headquartered in Xiamen, in China's Fujian Province, and operates an online platform that helps service providers market themselves to customers. Market data classifies it within communication services, in the media industry, and describes segments covering online promotion, premium business solutions and digital marketing.

Company announcements give a sense of scale. In November 2025 the company said the platform had 25.66 million registered users and, as of 30 June 2024, 8.74 million buyers, 16.92 million sellers and 4.6 million completed projects, with cumulative gross merchandise value above US$1.67 billion.

Compliance Problems That Preceded the Exit

The path off Nasdaq was visible months earlier. On 4 November 2025 the company disclosed a notice that its closing bid had been US$0.10 or less for ten consecutive trading days, and said it had appealed. On 13 November 2025 it announced a 40-for-1 share consolidation, effective at market open on 17 November 2025, intended to regain compliance with Nasdaq Rule 5550(a)(2).

Then, on 24 November 2025, it received a further notification for failing to file its Form 20-F for the fiscal year ended 30 June 2025, a breach of Listing Rule 5250(c)(1). By the time of the Form 25 in June 2026, the listing had ended.

Financial Position and Recapitalisation

Registration statements filed in 2026 provide the clearest financial snapshot. An amended Form F-1 dated 14 April 2026 reported consolidated revenue of US$27.84 million and a net loss of US$10.44 million for the year ended 30 June 2025.

The capital structure has changed dramatically since. A Form 6-K dated 27 January 2026 described a restructured private placement: 284 million shares at US$0.05 each, replacing an earlier plan for 10 million shares at US$1.42. A Form F-1 filed on 19 March 2026 registered about 221.3 million Class A shares for resale by selling shareholders, and an amendment dated 29 April 2026 priced that resale at US$0.033 per share, with no proceeds going to the company.

On 22 April 2026 a 6-K said shareholders would vote on lifting authorised share capital from US$1 million to US$40 million, with potential share consolidations of up to 200-for-1. A 6-K dated 15 May 2026 reported Shareholder approval of measures for a share capital increase and a broader capital reduction and reorganisation.

Key Risks

Liquidity on the over-the-counter market is typically thinner than on an exchange, and quotes at a fraction of a cent can move sharply on small volumes. The company has recorded a net loss, missed an annual filing deadline, and relied on discounted share issuance. Resale registrations covering hundreds of millions of shares can add supply. Information is also somewhat harder to follow: the most recent Earnings fields in market data show no release dates, and no fiscal 2026 results had been located.

The Overdue 20-F, Fiscal 2026 Results and the Final Share Count

The delayed Annual Report and the fiscal 2026 results should show how far the platform's revenue and losses have moved. The terms of any share consolidation under the reorganisation approved in May 2026 and the final share count will matter as well. Until audited figures arrive, the company's trading and cash position since mid-2025 stays unclear.