Business Context and Reporting Period
Company: Ocean Power Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: May 20, 2019
Event Date: May 20, 2019 (Notification received); May 21, 2019 (Press release issued)
This filing addresses the Company's status regarding its listing on the NASDAQ Stock Market. The report confirms that the Company has resolved a compliance issue related to the minimum shareholders' equity rule.
Key Financial Metrics
This Form 8-K does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metrics.
Material Changes
- Listing Status: The Company received written notification from the Nasdaq Hearings Panel confirming it has regained compliance with the minimum shareholders' equity rule.
- Compliance Status: The Panel determined the Company complies with all other applicable standards for continued listing and considered the matter closed.
Guidance, Outlook, and Risks
Management Commentary: The Company issued a press release on May 21, 2019, announcing the closing of the compliance matter. No forward-looking guidance or financial outlook is provided in this specific filing.
Risks and Contingencies: The filing resolves a prior risk of delisting due to failure to meet the minimum shareholders' equity standard. No new risks or unusual items are disclosed in this report.
Investor Verification Checklist
- Verify the Company's current shareholders' equity balance in the most recent 10-Q or 10-K to confirm the level achieved to regain compliance.
- Review the press release filed as Exhibit 99.1 for any additional context regarding the capital raise or actions taken to restore equity.
- Confirm the Company's continued adherence to other NASDAQ listing standards beyond the equity requirement.