Business Context and Reporting Period
Company: Great Elm Capital Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: May 4, 2017
Event Date: May 4, 2017
This filing addresses a regulatory compliance issue regarding the company's listing status on the Nasdaq stock exchange.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and listing compliance rather than financial performance.
Material Changes
- Listing Non-Compliance: On May 4, 2017, Nasdaq notified the registrant of non-compliance with Nasdaq Listing Rule 5605.
- Cause: The registrant's audit committee currently consists of only two members, failing to meet the required standard.
Outlook, Management Commentary, and Risks
- Cure Period: The registrant has been granted a cure period to resolve the non-compliance issue.
- Management Plan: The board expects to fill the vacant seat on the board within the next month to restore compliance.
- Risk: Failure to cure the deficiency within the allotted time could result in delisting or transfer of listing.
Key Facts for Investor Verification
- Verify the current composition of the audit committee and the timeline for appointing the third member.
- Monitor subsequent filings to confirm the appointment was made within the expected one-month window.
- Check for any further communications from Nasdaq regarding the status of the cure period.