Business Context and Reporting Period
Company: Flotek Industries, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: July 7, 2020
Reporting Period: Single event date (July 7, 2020)
This filing serves as a Regulation FD disclosure regarding the Company's compliance status with the New York Stock Exchange (NYSE) listing standards.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance status rather than financial performance data.
Material Changes
NYSE Listing Status: On July 7, 2020, the Company received written confirmation from the NYSE that it is no longer considered beneath the $1 minimum share price listing criterion. This resolves a previous deficiency regarding the minimum bid price requirement.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates a press release (Exhibit 99.1) confirming the restoration of compliance with the NYSE minimum share price rule.
Risks and Contingencies: The filing does not disclose new risks, contingencies, or unusual items beyond the resolution of the listing deficiency. No forward-looking guidance or outlook is provided in this specific document.
Investor Verification Checklist
- Verify the current trading price of FTK on the NYSE to ensure continued compliance with the $1 minimum bid price rule.
- Review the full text of the press release (Exhibit 99.1) for any additional context regarding the Company's capital structure or stock split history that may have contributed to this status change.
- Monitor subsequent filings for any new notices from the NYSE regarding other listing standards (e.g., market value of publicly held shares, number of shareholders).