Inventergy Global, Inc. (NASDAQ:INVT) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
On April 7, 2017, Inventergy Global, Inc. (the “Company”) received notice from The Nasdaq Stock Market (“Nasdaq”) that the Company no longer complies with the minimum $2,500,000 stockholders’ equity requirement (the “Stockholders’ Equity Requirement”) for continued listing on Nasdaq as set forth in Listing Rule 5550(b)(1). Unless the Company requests an appeal of this determination, trading of the Company’s common stock will be suspended at the open of business on April 19, 2017.
As permitted under Nasdaq rules, the Company intends to appeal the delisting determination and the Company’s common stock will continue to trade on Nasdaq while such appeal is pending. The Company believes that it will regain compliance with the Stockholders’ Equity Requirement by the time it completes the appeal process due to an expected gain on debt extinguishment following the completion of the requirements of the restructuring agreement the Company entered into in December 2016 with its lender, DBD Credit Funding LLC. These requirements, including assignment of the Company’s patents to a special purpose entity, as disclosed in the Company’s recently filed Annual Report on Form 10-K for the year ended December 31, 2016, are expected to be completed prior to April 30, 2017.
About Inventergy Global, Inc. (NASDAQ:INVT)
Inventergy Global, Inc. is an intellectual property (IP) investment and licensing company. The Company offers clients a professional corporate licensing model for IP value creation. The Company’s Technical Lead and associated group works to understand the science and/or technology behind the patents of a particular portfolio, under the review of the Legal Lead and in support of the Business team. This group coordinates the work of third party technology consultants, including technical external resources, such as technical experts, reverse engineering consultancies and other providers, to deliver inputs to the Legal and Business teams. The Legal Lead and Team manage the existing patent asset portfolio from a global perspective and also manage further prosecution of continuing patent cases. The Legal Lead also is responsible for the legal structure and legal documents of any license or negotiated settlement with prospective licensees. Inventergy Global, Inc. (NASDAQ:INVT) Recent Trading Information
Inventergy Global, Inc. (NASDAQ:INVT) closed its last trading session down -0.002 at 0.248 with 1,731,099 shares trading hands.