FENIX PARTS, INC. (NASDAQ:FENX) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing
Notification of Late Filing with the Securities and Exchange
Commission (SEC) on Form 12b-25 pertaining to its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2017 (its
Quarterly Report).
2017 from the Nasdaq Listing Qualifications staff in connection
with its inability to timely file its Quarterly Report as
required by Nasdaq Listing Rule 5250(c)(1). The notice indicated
that the Nasdaq Hearings Panel (the “Panel”) would consider the
matter in connection with the Companys continued listing and that
the Company should present its views to the Panel in writing with
respect to this additional deficiency no later than May 24, 2017;
however, this delinquency was anticipated and factored into the
Panels April 4, 2017 decision, as previously reported, granting
the Companys request for the continued listing of its common
stock on The Nasdaq Stock Market (Nasdaq). That decision was
subject to, among other things, the Company filing with the
Securities and Exchange Commission (1) its Annual Report on Form
10-K for the year ended December 31, 2016 by May 26, 2017 (the
2016 Form 10-K) and (2) its Quarterly Report by June 30, 2017.
the receipt of the deficiency letter, a copy of which is attached
hereto as Exhibit 99.1 and incorporated by reference herein.
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Exhibit Number
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Description
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99.1
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Press release dated May 18, 2017.
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About FENIX PARTS, INC. (NASDAQ:FENX)
Fenix Parts, Inc. is engaged in auto recycling business. The Company recovers and resells original equipment manufacturer (OEM) parts, components and systems, such as engines, transmissions, radiators, trunks, lamps and seats reclaimed from damaged, totaled or low value vehicles. The Company operates through Automobile Recycling segment. The Company purchases its vehicles primarily at auto salvage auctions. Upon receipt of vehicles, the Company inventories and then dismantles the vehicles and sells the recycled components. Its customers include collision repair shops (body shops), mechanical repair shops, auto dealerships and individual retail customers. The Company also generates a portion of its revenue from the sale as scrap of the unusable parts and materials, from the sale of used cars and motorcycles, the sale of aftermarket parts, and from the sale of extended warranty contracts. FENIX PARTS, INC. (NASDAQ:FENX) Recent Trading Information
FENIX PARTS, INC. (NASDAQ:FENX) closed its last trading session down -0.008 at 0.793 with 21,080 shares trading hands.
