SEC Filing Summary: BioFuel Energy Corp. (8-K)
Business Context and Reporting Period
This Form 8-K was filed by BioFuel Energy Corp. on April 27, 2011, reporting an event that occurred on April 20, 2011. The registrant is a Delaware corporation headquartered in Denver, Colorado. Note: The filing metadata provided in the request incorrectly identified the company as "Green Brick Partners, Inc."; the document text explicitly identifies the registrant as BioFuel Energy Corp.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a regulatory compliance issue regarding the company's stock price.
Material Changes
The primary material event is a notice from The Nasdaq Stock Market indicating that the company's common stock bid price closed below the minimum $1.00 per share requirement for 30 consecutive business days. This constitutes a failure to satisfy Nasdaq Listing Rule 5450(a)(1).
Outlook, Risks, and Contingencies
- Compliance Period: The company has been granted an initial 180-day period, ending October 17, 2011, to regain compliance.
- Compliance Criteria: To avoid delisting, the stock must close at $1.00 per share or more for a minimum of 10 consecutive business days before the deadline.
- Delisting Risk: If compliance is not achieved by October 17, 2011, the company's securities will be subject to delisting.
- Appeal Process: The company retains the right to appeal a delisting determination to a Hearings Panel.
Investor Verification Checklist
- Verify the current trading price of BioFuel Energy Corp. common stock to assess the likelihood of meeting the $1.00 threshold.
- Monitor the company's stock performance over the next 10 consecutive business days to track progress toward compliance.
- Review subsequent filings for any announcements regarding a reverse stock split or other capital structure changes intended to address the low bid price.
- Confirm the company's status on the Nasdaq website as the October 17, 2011 deadline approaches.