Business Context and Reporting Period
Company: OptimumBank Holdings, Inc.
Filing Type: Form 8-K (Current Report)
Report Date: June 21, 2013 (Earliest event reported: June 19, 2013)
Context: The filing addresses the Company's compliance status with The NASDAQ Stock Market listing requirements following a period of non-compliance regarding minimum bid price.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on corporate governance and listing status events.
Material Changes
- Regained Compliance: On June 19, 2013, the Company announced it received notification from NASDAQ that it had regained compliance with the minimum bid price listing requirement (Listing Rule 5550(a)(2)).
- Stock Price Performance: From June 3, 2013, through June 14, 2013 (10 consecutive business days), the closing bid price of the common stock was at or above $1.00 per share.
- Reverse Stock Split: To address prior non-compliance (notified June 20, 2012), the Company completed a 1-for-4 reverse stock split on May 31, 2013.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the successful resolution of the listing deficiency through the reverse stock split and subsequent market performance. No forward-looking guidance, risk factors, or contingencies regarding future operations are disclosed in this specific report.
Investor Verification Checklist
- Verify the current trading price of OptimumBank Holdings, Inc. common stock to ensure it remains above the $1.00 minimum bid price threshold.
- Confirm the post-split share count and capitalization structure following the May 31, 2013, 1-for-4 reverse stock split.
- Review subsequent filings to ensure no new delisting notices or compliance issues have arisen since June 2013.