Smart Digital Group Ltd (SDM) faced official delisting proceedings initiated by the Nasdaq Stock Market pursuant to its discretionary authority under listing rules. This regulatory action followed a previous temporary trading suspension imposed by the U.S. Securities and Exchange Commission (SEC), citing acute market liquidity concerns, potential security manipulation risks, and failure to maintain compliance with continued listing standards. Consequently, public trading of its common shares on the primary exchange was terminated, shifting its status to an over-the-counter or delisted security designation.