Business Context and Reporting Period
This Form 8-K was filed by Stereotaxis, Inc. on June 29, 2012, reporting an event that occurred on June 25, 2012. The filing addresses a regulatory notice from the Nasdaq Stock Market regarding the Company's compliance with listing standards.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the Market Value of Publicly Held Shares (MVPHS), which failed to meet the required minimum of $15,000,000 for the 30 consecutive business days prior to June 25, 2012.
Material Changes
The material change reported is the Company's failure to satisfy Nasdaq Rule 5450(b)(3)(C) regarding the Market Value of Publicly Held Shares. Consequently, the Company has been notified of its non-compliance and is at risk of delisting from the Nasdaq Stock Market.
Outlook, Risks, and Contingencies
- Compliance Period: The Company has been granted 180 calendar days, until December 24, 2012, to regain compliance.
- Regaining Compliance: To avoid delisting, the Company must maintain an MVPHS of $15,000,000 or more for a minimum of 10 consecutive business days before the December 24, 2012 deadline.
- Delisting Risk: If compliance is not achieved by the deadline, Nasdaq will notify the Company that its Common Stock will be delisted.
- Alternatives: The Company may appeal a delisting determination or apply for a transfer to The Nasdaq Capital Market, provided it meets the continued listing standards of that tier.
Investor Verification Checklist
- Verify the current Market Value of Publicly Held Shares (MVPHS) to assess progress toward the $15,000,000 threshold.
- Monitor the Company's stock price and trading volume to determine if the 10-day consecutive compliance window can be met.
- Review any subsequent filings for updates on the Company's plan to regain compliance or potential transfer to The Nasdaq Capital Market.
- Check for any announcements regarding an appeal of a potential delisting determination if the December 24, 2012 deadline is missed.