Stereotaxis, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Stereotaxis, Inc. on April 19, 2013, regarding an event that occurred on April 17, 2013. The filing addresses a regulatory notice from the Nasdaq Stock Market concerning 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 report focuses exclusively on the Market Value of Publicly Held Shares (MVPHS) metric, noting that the Company failed to maintain the required minimum of $15,000,000 for the 30 consecutive business days prior to April 17, 2013.
Material Changes
The material change reported is the notification from Nasdaq that the Company is no longer in compliance with Rule 5450(b)(3)(C) regarding the Market Value of Publicly Held Shares. This non-compliance triggers a potential delisting process if not resolved.
Outlook, Risks, and Contingencies
- Compliance Period: The Company has been granted 180 calendar days, until October 14, 2013, to regain compliance.
- Regaining Compliance: To avoid delisting, the Company must achieve an MVPHS of $15,000,000 or more for a minimum of 10 consecutive business days before the October 14, 2013 deadline.
- Delisting Risk: If compliance is not met by the deadline, Nasdaq will notify the Company that its common stock will be delisted.
- Appeal and Transfer Options: 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 achieved.
- Review future filings for any announcements regarding an appeal of delisting or an application to transfer to The Nasdaq Capital Market.
- Check for any subsequent 8-K filings that may update the status of the compliance period or provide financial context for the low market value.