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ETAK > SEC Filings for ETAK > Form 8-K on 17-Jun-2013All Recent SEC Filings

Show all filings for ELEPHANT TALK COMMUNICATIONS CORP | Request a Trial to NEW EDGAR Online Pro



Notice of Delisting or Failure to Satisfy a Continued Listing R

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

On June 13, 2013, Elephant Talk Communications Corp., (the "Company") received a notice from NYSE MKT LLC (the "Exchange") indicating that the Company made a reasonable demonstration of its ability to regain compliance with Section 1003(a)(iv) of the Company Guide of the NYSE MKT LLC (the "Company Guide"), and as a result, the Exchange accepted the Company's plan of compliance (the "Plan") it previously presented and granted the Company an extension until August 31, 2013 (the "Plan Period") to regain compliance with the continued listing standards.

The Company received notice from the Exchange on May 17, 2013 indicating that the Company does not satisfy the continued listing standards of the Exchange set forth in Section 1003(a)(iv) of the Company Guide in that the Company 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 it will be able to continue operations and/or meet its obligations as they mature. The Company was afforded the opportunity to submit a plan of compliance to the Exchange. On May 31, 2013, the Company presented its Plan to the Exchange.

During the Plan Period, the Company will be subject to periodic review by the Staff of the Exchange. Failure by the Company to demonstrate progress consistent with the Plan during the Plan Period or to regain compliance by the end of the Plan Period could result in the Exchange's initiating delisting proceeding.

Item 7.01 Regulation FD Disclosure.

The Company issued a press release on June 14, 2013 announcing receipt of the Exchange's notice on June 13, 2013. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.

The information under Item 7.01 of this Form 8-K and set forth in the attached Exhibit 99.1, is intended to be furnished under and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing

Item 9.01 Exhibits

(d) Exhibits

No. Description
99.1 Press Release dated June 14, 2013

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