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SWSH > SEC Filings for SWSH > Form 8-K on 25-Sep-2012All Recent SEC Filings

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Form 8-K for SWISHER HYGIENE INC.


25-Sep-2012

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standa


Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On September 20, 2012, Swisher Hygiene Inc. (the "Company") notified The NASDAQ Stock Market ("NASDAQ") that its Form 10-K for the year ended December 31, 2011 (the "Form 10-K") and the Form 10-Qs for the quarterly periods ended March 31, 2012 and June 30, 2012 (together, the "Form 10-Qs") will not be filed with the Securities and Exchange Commission by September 26, 2012, which is the extended deadline for filing previously granted to the Company by NASDAQ.

As a result of this notification, on September 21, 2012, the Company received a letter from NASDAQ advising that it remains non-compliant with the requirements for continued listing under NASDAQ Listing Rule 5250(c)(1) due to the Company's failure to timely file the Form 10-K and the Form 10-Qs. The letter further indicates that the Company's common stock is subject to delisting from NASDAQ unless it requests a hearing before a NASDAQ Listing Qualifications Panel (the "Panel") within seven calendar days of receipt of the letter.

The Company intends to timely request a hearing before the Panel. The Company's request for a hearing will automatically stay any delisting action for a period of 15 days from the date of the request. In addition, in connection with its request for a hearing, the Company will request that the Panel continue the stay of delisting until the conclusion of the hearing process. The Company expects that a hearing will be set for 30 to 45 days from the date of the request and that the Panel will take approximately one to six weeks from the hearing date to render a decision. If the Company's plan to regain compliance is approved, the Panel may provide the Company up to 360 days from the original due date for the Form 10-K, which was March 30, 2012. However, the Company cannot provide assurance that the Panel will grant the company a stay of Staff's delisting determination until the conclusion of the hearing process or that it will grant the Company an exception for additional time to regain compliance with NASDAQ's filing requirement.

On September 25, 2012, the Company issued a press release announcing the Company's receipt of the determination letter from NASDAQ. A copy of that press release is filed with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Exhibit Description

99.1 Press release, dated September 25, 2012.


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