Jamba, Inc. (NASDAQ:JMBA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
March 20, 2018, Jamba, Inc. (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq’s filing requirements set forth in Listing Rule 5250(c)(1) as a result of the Company’s delay in filing its Annual Report on Form 10-K for 2017 (“2017 10-K”). The notification states that the Company’s failure to file its 2017 10-K may serve as an additional basis for the delisting of the Company’s securities from Nasdaq and that the Nasdaq Hearings Panel (the “Panel”) will consider this matter in their decision regarding the Company’s continued listing on The Nasdaq Global Select Market. The notification states that the Company has until March 27, 2018 to present its views with respect to this additional deficiency to the Panel.
As previously disclosed, the Company is also not in compliance with Nasdaq Listing Rules 5620(a) and 5810(c)(2)(G), since the Company has not yet held an annual meeting of stockholders within twelve months of the end of the Company’s fiscal year ended January 3, 2017.
The notification received has no immediate effect on the listing of the Company’s common stock on Nasdaq. The Company continues to work diligently with Jamba’s newly appointed auditor, Whitley Penn LLP to complete fiscal 2017 financial statements and their subsequent audit, and to thereafter file the 2017 10-K as soon as practicable.
The Company issued a press release on March 23, 2018 disclosing the Company’s receipt of the Nasdaq notification letter. A copy of the press release is attached as Exhibit 99.1 hereto.
|
Item 3.01 |
Financial Statements and Exhibits. |
|
Exhibit No. |
Description |
|
99.1 |
Press release dated March 23, 2018. |
JAMBA, INC. ExhibitEX-99.1 2 jmba-ex991_6.htm EX-99.1 jmba-ex991_6.htm Exhibit 99.1 Jamba,…To view the full exhibit click here
About Jamba, Inc. (NASDAQ:JMBA)
Jamba, Inc. is a restaurant retailer of specialty food and beverage offerings. The Company operates through retail segment. The Company’s offerings include whole fruit smoothies, squeezed juices and juice blends, Energy Bowls, and a range of food items including, hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads, baked goods and snacks. The Company, through its subsidiary, Jamba Juice Company, operates a lifestyle brand. The Company has a global business driven by a portfolio of franchised and company-owned Jamba Juice stores, and licensed JambaGO and Jamba Juice Express formats. The Company has approximately 890 Jamba Juice stores globally, consisting of over 70 company-owned and operated stores, all located in the United States (Company Stores), approximately 740 franchisee-owned and operated stores (Franchise Stores) in the United States, and over 70 Franchise Stores in international locations (International Stores), collectively the (Jamba System).