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STXS > SEC Filings for STXS > Form 8-K on 25-Mar-2013All Recent SEC Filings

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

Form 8-K for STEREOTAXIS, INC.


25-Mar-2013

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


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

On March 20, 2013, Stereotaxis, Inc. (the "Company") received a notification from The Nasdaq Stock Market ("Nasdaq") that the Company is not in compliance with the $50.0 million in total assets and total revenues for the most recently completed fiscal year or for two of the last three most recently completed fiscal years as required by Nasdaq Listing Rule 5450(b)(3)(A). In addition, the Nasdaq letter states that Company does not comply with an alternative requirement of Listing Rule 5450(b) for continued listing on The Nasdaq Global Market because the Company's stockholders' equity is less than $10.0 million and the market value of listed securities of the Company is less than $50.0 million.

In the notice, Nasdaq stated that the Company may provide a plan to regain compliance with the continued listing requirements of The Nasdaq Global Market by May 6, 2013. Nasdaq will contact the Company with any questions or concerns regarding the plan. If Nasdaq accepts the plan, it can grant an extension of up to 180 calendar days from the date of the letter (that is, through September 16, 2013) to evidence compliance. If Nasdaq does not accept the plan, the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. Alternatively, the Company may consider applying to move to The Nasdaq Capital Market. The Company intends to submit a compliance plan with Nasdaq on or before May 6, 2013.


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