SIGMA LABS, INC. (OTCMKTS:SGLB) Files An 8-K Other Events
Item 8.01
As previously disclosed, on April 8, 2019, Sigma Labs, Inc. (“we,” “our,” “us,” or the “Company”) received a letter from Nasdaq notifying us that we were no longer in compliance with the minimum stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on the Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000. In the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, the Company reported stockholders’ equity of $1,735,439, which is below the minimum stockholders’ equity required for continued listing to Nasdaq Listing Rule 5550(b)(1). Further, as of April 8, 2019, the Company did not meet the alternative Nasdaq continued listing standards relating to the market value of listed securities or net income from continuing operations.
On August 2, 2019, we closed an underwritten public offering of 2,875,000 shares of our common stock at a price of $0.80 per share, resulting in gross proceeds of $2,300,000 (the “Offering”). As a result of the Offering, the Company believes it has regained compliance with the stockholders’ equity requirement, and therefore satisfies the applicable requirement for continued listing on The Nasdaq Capital Market. Nasdaq will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement and, if upon the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 the Company does not evidence compliance, it may be subject to delisting.
About SIGMA LABS, INC. (OTCMKTS:SGLB)
Sigma Labs, Inc. is a technology company that specializes in the development and commercialization of manufacturing and materials technologies. The Company’s principal business activities include the development of its In-Process Quality Assurance (IPQA) suite of technologies and the commercialization of both its IPQA and materials-related suite of technologies, with its focus on three-dimensional printing (3DP) industry. It is engaged in a range of activities in which it seeks to commercialize technologies and products in various industry sectors, such as aerospace and defense manufacturing; bio-medical manufacturing; automotive manufacturing, and other markets. It offers PrintRite3D SENSORPAK, which is an auxiliary sensor and hardware kit; PrintRite3D INSPECT, which is a software that verifies quality layer by layer, and PrintRite3D CONTOUR, which is a software that assures the as-built geometry. Its other software modules include PrintRite3D THERMAL and PrintRite3D ANALYTICS.
