Business Context and Reporting Period
This Form 8-K is filed by Amedica Corporation (not Sintx Technologies, Inc.) on May 23, 2017. The report addresses a compliance issue with The Nasdaq Stock Market regarding the failure to file required periodic financial reports.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on regulatory compliance status rather than financial performance data.
Material Changes and Events
- Delisting Notice: On May 23, 2017, the Company received notice from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to the failure to file the Form 10-Q for the quarter ended March 31, 2017.
- Delinquency: The Company is also delinquent on filing its Annual Report on Form 10-K for the period ended December 31, 2016.
- Immediate Status: The notification has no immediate effect on the listing of the Company's common stock on the NASDAQ Capital Market.
Outlook, Risks, and Contingencies
- Compliance Deadline: The Company has until June 19, 2017, to submit a plan to Nasdaq to regain compliance.
- Grace Period: If a plan is accepted, Nasdaq may grant up to 180 calendar days (until September 27, 2017) to file the missing reports.
- Appeal Rights: If the compliance plan is rejected, the Company has the opportunity to appeal to a Nasdaq Hearings Panel.
- Forward-Looking Statements: The filing includes a cautionary note that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially.
Investor Verification Checklist
- Verify the current filing status of the Form 10-Q (Q1 2017) and Form 10-K (FY 2016) on the SEC EDGAR database.
- Confirm whether a compliance plan was submitted to Nasdaq by the June 19, 2017 deadline.
- Monitor for any subsequent Nasdaq decisions regarding the acceptance of the plan or potential delisting.
- Review the press release dated May 26, 2017 (Exhibit 99.1) for additional details on the delay.