Prism Technologies Group, Inc. (NASDAQ:PRZM) 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.
On November 16, 2016, Prism Technologies Group, Inc. (the ”Company) was notified by Nasdaq that it was not in compliance with Listing Rule 5550(b)(1), requiring listed companies to maintain a minimum of $2,500,000 in stockholders’ equity. As of September 30, 2016, the Company reported stockholders’ equity of $2,386,000, and the Company does not meet alternative requirements based on the market value of listed securities or net income from continuing operations.
The Company has 45 calendar days, or until January 3, 2017, to submit a plan to Nasdaq to regain compliance with this Listing Rule. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from November 16, 2016 to evidence compliance. In determining whether to accept the Company’s plan, Nasdaq will consider such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the Company’s past compliance history, the reasons for the Company’s current non-compliance, other corporate events that may occur within the review period, the Company’s overall financial condition and its public disclosures.
The Company is presently evaluating various courses of action concerning compliance with the listing rule.
About Prism Technologies Group, Inc. (NASDAQ:PRZM)
Prism Technologies Group, Inc., formerly Internet Patents Corporation, is engaged in the business of licensing and enforcing a portfolio of patents relating to technologies developed by it. The Company’s subsidiary is Prism Technologies, LLC (Prism). Prism has two primary operating subsidiaries: Secure Axcess, LLC and Millenium Biologix, LLC. Prism also operates an intellectual property licensing and enforcement business. The Company and its subsidiaries own a portfolio of patents with over 50 issued patents in the areas of computer and network security, semiconductors and medical technology. The Company’s patent portfolio includes Gregg Patents for device authentication and access to protected resources; Glazer Patents for image recognition and Website authentication; Weber Patents for multiple screen computer display; Pugh Patents for synthetic biomaterial compound; Wallace Patents for encrypted cookies, and Quizid Patents for authentication tokens. Prism Technologies Group, Inc. (NASDAQ:PRZM) Recent Trading Information
Prism Technologies Group, Inc. (NASDAQ:PRZM) closed its last trading session up +0.010 at 0.170 with 62,172 shares trading hands.