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NLST > SEC Filings for NLST > Form 8-K on 21-Aug-2013All Recent SEC Filings

Show all filings for NETLIST INC

Form 8-K for NETLIST INC


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

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

On August 15, 2013, Netlist, Inc. (the "Company") received a notice from the Nasdaq Stock Market ("Nasdaq") indicating that it no longer complies with the requirements of Nasdaq Marketplace Rule 5450(b)(1)(A) for continued listing on the Nasdaq Global Market. The rule requires that the Company maintain minimum stockholders' equity of $10,000,000. As reported in the Company's Quarterly Report on Form 10-Q for the period ended June 29, 2013, the Company's stockholders' equity was $8,539,000.

The Company has until September 30, 2013 to provide a plan to regain compliance with Nasdaq Global Market listing requirements. If Nasdaq accepts the Company's plan, Nasdaq can grant an extension of up to 180 calendar days from the date of the letter to evidence compliance. If Nasdaq determines that the Company's plan is not sufficient to achieve and sustain compliance, it will provide written notice that the Company's securities will be delisted. At such time, the Company may appeal the decision to a Nasdaq Listing Qualifications Panel. The Company is currently preparing its plan for compliance with Nasdaq Global Market listing requirements and expects to submit the plan to Nasdaq by the September 30, 2013 deadline. The Company may also consider applying to list its securities on the Nasdaq Capital Market if it satisfies the requirements for continued listing on that market.

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