DETERMINE, INC. (NASDAQ:DTRM) 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.
(a)On December 11, 2018, Determine, Inc. (the “Company”) received a staff determination letter from the NASDAQ Stock Market (“Nasdaq”) indicating that based on its review of materials submitted, the Company was not able to take the necessary actions to meet the terms of a potential extension to regain compliance, and the Company did not comply with the minimum $2.5 million stockholders’ equity requirement for continued listing under Nasdaq Listing Rule 5550(b). The determination letter stated that unless the Company requests an appeal of this determination, the Company’s common stock would be suspended from Nasdaq at the opening of business on December 20, 2018.
The Company does not plan to appeal this determination and will allow such suspension to proceed. Accordingly, the Company anticipates that trading of its common stock will be suspended at the opening of business on December 20, 2018, and that its common stock will subsequently be delisted and become eligible to continue to be quoted on the OTC Bulletin Board or in the “Pink Sheets.” Trading on the OTCBB or Pink marketplace may occur only if a market maker applies to quote the Company’s common stock and the Company is current in its reporting obligations under the Securities Exchange Act of 1934. Once the Company’s common stock is delisted from Nasdaq, there can be no assurance that a market maker will apply to quote the Company’s common stock or that the Company’s common stock then will be eligible for quotation on the OTCBB or the Pink marketplace.
About DETERMINE, INC. (NASDAQ:DTRM)
Determine, Inc., (Determine), formerly Selectica, Inc., is a provider of enterprise contract management, supply management and configuration solutions. The Company is engaged in providing software as a service (SaaS) Source to Pay and Enterprise Contract Lifecyclem Management (ECLM) solutions. Its Source to Pay software suite includes strategic sourcing, supplier management, contract management and procure-to-pay applications. The Determine Cloud Platform gives procurement, finance and legal professionals the ability to deliver insights through analysis of their supplier relationships and contractual requirements. The Determine platform is an open technology infrastructure based on smart process application models. In addition to its source to pay and enterprise contract lifecycle management solutions suite, it also provides a configuration engine solution. Determine’s Configuration engine consolidates the management and dissemination of complex product information.