FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01
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Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing. |
press release announcing it does not plan to appeal the delisting
of its common stock from The Nasdaq Stock Market (Nasdaq) due to
the Companys non-compliance with the minimum stockholders equity
and closing bid requirements for continued listing on the Nasdaq
Capital Market. The Company expects that its common stock will
trade on OTC Market Groups OTC Pink marketplace and is currently
in the process of applying to be quoted on OTC Market Groups
OTCQX marketplace.
to regain compliance with the minimum bid price requirements and
until June 6, 2017 to regain compliance with the market value
requirement. However, currently neither requirement is met and
the Company has decided it will not appeal a potential delisting
to a Nasdaq Hearing Panel or seek an extension of the period to
regain compliance.
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Item 8.01
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Other Events
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on Form 8-K is incorporated herein by reference.
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Item 9.01.
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Financial Statements and Exhibits
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(d)
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Exhibits
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Exhibit Number
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Description
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99.1
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Press release of the Company dated May 10, 2017.
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About FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC)
FalconStor Software, Inc. is a Software-Defined Storage (SDS) company offering a converged data services software platform. The Company’s platform FreeStor, allows information technology (IT) organizations minimize and eliminate that complexity with the delivery of migration, continuity, protection, recovery and optimization for any storage environment through a management interface for a price based on managed capacity across arrays, servers, hypervisors, data centers, and the cloud. The Company’s Intelligent Abstraction core provides a scalable storage hypervisor, coupled with a data services engine and automation. The Company’s Business Continuity and Disaster Recovery products include network storage server (NSS) and continuous data protector (CDP). Its Optimized Backup and Deduplication (OBD) products merge its virtual tape library (VTL) and file-interface deduplication system (FDS) solutions. FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) Recent Trading Information
FALCONSTOR SOFTWARE, INC. (NASDAQ:FALC) closed its last trading session down -0.020 at 0.340 with 48,464 shares trading hands.