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TIK > SEC Filings for TIK > Form 8-K on 5-Sep-2013All Recent SEC Filings




Notice of Delisting or Failure to Satisfy a Continued Listing Rul

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

On September 4, 2013 Tel Instrument Electronics Corp. ("Tel" or "Company") announced that it continues to be listed on the NYSE MKT ("Exchange") pursuant to an extension.

The Company had previously received a letter from the Staff of the NYSE MKT ("Exchange") that, based on the Tel's financial statements at March 31, 2013, Tel was no longer in compliance with the minimum stockholders' equity requirement of $4.0 million, and had also reported net losses in three of its last four fiscal years, as set forth in Section 1003(a)(ii) of the NYSE MKT Company Guide.

The Company was afforded the opportunity to submit a plan of compliance to the Exchange and based on information provided by the Company, the Exchange notified the Company that it accepted the Company's plan of compliance and granted an extension until November 7, 2014.

The Company will be subject to periodic review by the Exchange Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Exchange Staff initiating delisting proceedings.

A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.     Description

99.1*            Press release dated September 4, 2013, "Tel-Instrument

Electronics Corp Announces Acceptance of Plan by NYSE MKT".

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