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CBAK > SEC Filings for CBAK > Form 8-K on 10-Jun-2013All Recent SEC Filings

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Form 8-K for CHINA BAK BATTERY INC


10-Jun-2013

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


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

On June 5, 2013, China BAK Battery, Inc. (the "Company") received notice from the Listing Qualifications Department of The NASDAQ Stock Market indicating that, for the last 30 consecutive business days, the bid price for the Company's common stock had closed below the minimum $1.00 per share required for continued inclusion on The NASDAQ Global Market under NASDAQ Listing Rule 5450(a)(1). The notification letter states that the Company will be afforded 180 calendar days, or until December 2, 2013, to regain compliance with the minimum bid price requirement. In order to regain compliance, shares of the Company's common stock must maintain a minimum closing bid price of at least $1.00 per share for a minimum of ten consecutive business days.

In the event that the Company does not regain compliance within this period, it may be eligible for additional time to regain compliance by filing a listing application to transfer its common stock to The NASDAQ Capital Market and satisfying certain other requirements.

The Company intends to actively monitor the bid price for its common stock between now and December 2, 2013, and will consider all available options to resolve the deficiency and regain compliance with the NASDAQ minimum bid price requirement.


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