Business Context and Reporting Period
Optex Systems Holdings Inc. filed this Form 8-K on May 5, 2015, regarding its status on the OTCQB marketplace. The company is incorporated in Delaware and maintains its principal executive offices in Richardson, Texas.
Key Financial Metrics
This filing does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory compliance regarding stock listing standards.
Material Changes
The material change reported is the Company's failure to meet the OTCQB minimum bid price standard. Specifically, the common stock closed below $0.01 for more than 30 consecutive calendar days. This filing was made voluntarily under Item 3.01 to ensure full disclosure to shareholders, as the item technically applies to issuers on national exchanges.
Outlook, Risks, and Contingencies
- Grace Period: The Company has been granted a 180-calendar-day grace period to regain compliance, ending on November 1, 2015.
- Compliance Requirement: To avoid removal, the bid price must close at or above $0.01 for any ten consecutive trading days within the grace period.
- Trading Status: The notification does not result in immediate removal; trading on the OTCQB will continue uninterrupted.
- Management Action: The Company is currently evaluating all available options to regain compliance.
Investor Verification Checklist
- Verify the current bid price of Optex Systems Holdings Inc. common stock to assess proximity to the $0.01 threshold.
- Monitor the stock's closing prices daily to track progress toward the ten consecutive trading day requirement.
- Review future filings for updates on the Company's strategy to regain compliance before the November 1, 2015 deadline.
- Confirm whether the Company has announced any reverse stock splits or other corporate actions intended to increase the share price.