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ETRM > SEC Filings for ETRM > Form 8-K on 20-Jul-2016All Recent SEC Filings

Show all filings for ENTEROMEDICS INC



Other Events

Item 8.01 Other Events.

On July 19, 2016, EnteroMedics Inc. (the "Company") received a letter from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq") granting the Company an extension until November 14, 2016 to regain compliance with Listing Rule 5550(b) (the "Rule"), which requires the Company to have a minimum of $2.5 million stockholders' equity, $35 million market value of listed securities, or $0.5 million net income from continuing operations. The Company has submitted to the Staff a plan to regain compliance with the Rule through a combination of note conversions and accelerated principal amortizations and infusions of equity capital prior to the deadline.

The Company had previously disclosed on a Current Report on Form 8-K filed on May 13, 2016 that the Company was not in compliance with the Rule because it did not have stockholders' equity of at least $2.5 million.

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