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TTTM > SEC Filings for TTTM > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for T3 MOTION, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for T3 MOTION, INC.


1-Nov-2012

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; T


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

On October 26, 2012, T3 Motion, Inc., a Delaware corporation (the "Company"), received notice from the NYSE MKT LLC ("NYSE MKT") indicating that the Company is not in compliance with certain of the NYSE MKT continued listing standards. Specifically, the letter from the Exchange stated that the Company is not in compliance with Section 1003(a)(iv) in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature.

The Company has informed the Exchange of its intention to pursue the right of appeal and request a hearing pursuant to Sections 1203 and 1009(d) of the Company Guide. There can be no assurance that the Company's request for continued listing will be granted at this hearing. In the event that the Company's appeal is unsuccessful, the Company expects that its common stock will trade on OTC-BB no later than any official delisting from the Exchange.

On October 31, 2012, the Company issued a press release announcing its receipt from the NYSE MKT of notice of the Company's failure to satisfy a continued listing standard. A copy of the press release is attached hereto as Exhibit 99.1.



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 26, 2012, Domonic Carney, Chief Financial Officer of T3 Motion, Inc. (the "Company"), notified the Company's board of directors that he was terminating his employment relationship with the Company for personal reasons. Mr. Carney has advised that he will continue to work with the Company for the next several weeks in order to assist with the transition as the Company seeks to retain his replacement. Rod Keller Jr., Chief Executive Officer of the Company, will assume the role of interim principal financial officer.

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