Business Context and Reporting Period
This Form 8-K is filed by Dataram Corporation (not U.S. Gold Corp.) on September 15, 2014. The report addresses a regulatory notice received on September 11, 2014, regarding the company's listing status on The NASDAQ Capital Market.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or debt figures. The only financial metric disclosed is the cause for the listing notice: the company's continued non-compliance with the $2,500,000 stockholders' equity requirement for continued listing on NASDAQ.
Material Changes
- Delisting Notice: The company received notification from NASDAQ that its securities are subject to delisting due to failure to meet the minimum stockholders' equity standard.
- Trading Status: Common stock (symbol: DRAM) will continue to trade on The NASDAQ Capital Market pending the outcome of a hearing.
Outlook, Management Commentary, and Risks
Management Action: Dataram Corporation intends to timely request a hearing before a Listing Qualifications Panel. During this hearing, the company plans to present a strategy to evidence and sustain compliance with all applicable listing requirements.
Risks: The primary risk is the potential delisting of the company's securities from NASDAQ if the company fails to demonstrate compliance or secure an extension during the hearing process.
Investor Verification Checklist
- Verify the company's current stockholders' equity balance to confirm the extent of the deficit against the $2.5 million threshold.
- Monitor the scheduled date and outcome of the Listing Qualifications Panel hearing.
- Review the company's specific plan for restoring compliance (e.g., capital raise, asset restructuring) once disclosed.
- Confirm the continued trading status of the "DRAM" ticker on NASDAQ.