Current Report Filing (8-k)
31 March 2020 - 9:03PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 30, 2020 (March 25, 2020)
Vislink
Technologies, Inc.
(Exact
name of registrant as specified in its charter)
Delaware
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001-35988
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20-5856795
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification No.)
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1515
Ringling Blvd., Suite 310, Sarasota, FL
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34236
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (941) 953-9035
n/a
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
symbol(s)
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Name
of each exchange on which registered
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Common
Stock, par value $0.00001 per share
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VISL
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The
Nasdaq Capital Market
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
Growth Company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
September 26, 2019, Vislink Technologies, Inc. (the “Company”), received notice from the Listing Qualifications staff
of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, based on the previous 30 consecutive business days, the
Company’s common stock, par value $0.00001 per share (the “Common Stock”), no longer met the minimum $1 bid
price per share requirement (the “Minimum Bid Price Requirement”). In accordance with its Listing Rules, Nasdaq granted
the Company 180 calendar days, or until March 24, 2020, to regain compliance. In order to regain compliance, the closing bid price
of the Company’s Common Stock must be at least $1 per share for a minimum of ten consecutive business days during this 180-day
period. The Company has not regained compliance with the Minimum Bid Price Requirement as of that date. By letter dated March
20, 2019, the Company requested Nasdaq to provide an extension of an additional 180 days in which to regain compliance.
On
March 25, 2020, the Company received notice from Nasdaq indicating that, while the Company has not regained compliance with the
Minimum Bid Price Requirement, Nasdaq has determined that the Company is eligible for an additional 180-day period, or until September
21, 2020, to regain compliance. The Nasdaq staff’s determination was based on (i) the Company meeting the continued listing
requirement for market value of its publicly held shares and all other Nasdaq initial listing standards, with the exception of
the Minimum Bid Price Requirement, and (ii) the Company providing written notice to Nasdaq of its intent to cure the deficiency
during this second compliance period, if necessary by effecting a reverse stock split. If at any time during this second 180-day
period, the closing bid price of the Common Stock is at least $1 per share for a minimum of 10 consecutive business days, Nasdaq
has stated that they will provide the Company with written confirmation of compliance. If compliance cannot be demonstrated by
September 21, 2020, Nasdaq will provide written notification that the Common Stock will be delisted. At that time, the Company
may appeal Nasdaq’s determination to its hearings panel. The Company can give no assurance that it will regain or demonstrate
compliance by September 21, 2020.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date:
March 30, 2020
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VISLINK
TECHNOLOGIES, INC.
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By:
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/s/
Carleton M. Miller
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Name:
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Carleton
M. Miller
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Title:
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Chief
Executive Officer
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