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OCZ > SEC Filings for OCZ > Form 8-K on 12-Apr-2013All Recent SEC Filings

Show all filings for OCZ TECHNOLOGY GROUP INC

Form 8-K for OCZ TECHNOLOGY GROUP INC


12-Apr-2013

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


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

On April 11, 2013, OCZ Technology Group, Inc. (the "Company"), as anticipated, received a letter (the "NASDAQ Letter") from the Staff of the Listing Qualifications Department (the "Staff") of The NASDAQ Stock Market LLC ("NASDAQ") indicating that, based upon the Company's continued non-compliance with NASDAQ Listing Rule 5250(c)(1) (the "Filing Requirement"), the Company's securities were subject to delisting from NASDAQ unless the Company timely requests a hearing before the NASDAQ Listing Qualifications Panel (the "Panel"). As previously announced, the Company intends to request a hearing before the Panel at which it will present its plan to regain compliance with the Filing Requirement and request additional time within which to do so. In accordance with the NASDAQ Listing Rules, in connection with the hearing request, the Company will formally request a stay of any delisting action pending the conclusion of the hearing process.

As previously reported, the Company has not yet filed its Form 10-Q for the fiscal quarter ended August 31, 2012 ("Second Quarter Form 10-Q"), its Form 10-Q for the fiscal quarter ended November 30, 2012 ("Third Quarter Form 10-Q"), or the restatement of its financial statements included in its Form 10-K for the fiscal year ended February 29, 2012 ("Form 10-K") and its Form 10-Q for the fiscal quarter ended May 31, 2012 ("First Quarter Form 10-Q") with the Securities and Exchange Commission, as required. To that end, the Company announced on April 8, 2013 that it was unable to file its Second and Third Quarter Form 10-Qs and the restatements of its Form 10-K and First Quarter Form 10-Q prior to the April 8, 2013 filing deadline previously established by the Staff.

The Company has made substantial progress in the process to complete the financial restatement and to file its periodic reports with the SEC. Assuming the Panel grants the Company's request for a stay of any delisting action pending the conclusion of the hearing process, any final decision on the Staff's determination to delist the Company's common stock will be stayed until at least such time as the hearing is held and the Panel issues a determination with respect to the Company's request for continued listing on NASDAQ.

The Company issued a press release on April 8, 2013, disclosing the anticipated receipt of the letter from NASDAQ. A copy of the press release is furnished herewith as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated April 8, 2013


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