Business Context and Reporting Period
This Form 8-K filing by Orion Energy Systems, Inc. is dated March 26, 2012. The report addresses a regulatory compliance issue regarding the company's listing status on the NYSE Amex LLC.
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 listing compliance status rather than financial performance data.
Material Changes
The material event reported is the company's failure to timely file its Quarterly Report on Form 10-Q for the fiscal 2012 third quarter ended December 31, 2011. This failure resulted in a notice of non-compliance with the Exchange's continued listing criteria (Sections 134 and 1101 of the NYSE Amex LLC Company Guide) received on February 14, 2012.
Outlook, Risks, and Management Commentary
- Compliance Plan: The company submitted a plan of compliance on February 15, 2012, which the Exchange accepted on March 26, 2012.
- Extension Granted: The Exchange granted an extension until June 15, 2012, for the company to regain compliance with continued listing standards.
- Risks: The company is subject to periodic review by Exchange Staff. Failure to make progress consistent with the plan or to regain compliance by the June 15, 2012 deadline could result in delisting from the NYSE Amex LLC.
Investor Verification Checklist
- Verify the status of the Form 10-Q for the quarter ended December 31, 2011, to confirm if it has been filed.
- Monitor the company's progress against the accepted compliance plan before the June 15, 2012 deadline.
- Check for any subsequent communications from the NYSE Amex regarding the company's listing status.