Smith Micro Software, Inc. (NASDAQ:SMSI) 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 |
On May 8, 2017, Smith Micro Software, Inc., a Delaware
corporation (the Company), received a written notification from
The Nasdaq Stock Market LLC notifying the Company that it fails
to comply with Nasdaqs Marketplace Rule 5550(b)(1) (the Rule)
because the Companys stockholders equity as of March 31, 2017
fell below the required minimum of $2,500,000 and as of May 8,
2017 the Company does not meet the alternatives of market value
of listed securities or net income from continuing operations for
continued listing.
Under the Rules, the Company has 45 calendar days, or until June
22, 2017, to submit a plan to regain compliance.If accepted,
Nasdaq will grant an extension of up to 180 calendar days from
the date of their letter to evidence compliance.
We intend to actively consider available options to resolve the
deficiency and regain compliance with the Nasdaq minimum
stockholders equity requirement. There is no assurance, however,
that the Companys common stock will not be delisted from Nasdaq.
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Item 9.01 |
Financial Statements and Exhibits. |
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(d) |
Exhibits |
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Exhibit |
Description |
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99.1 |
Nasdaq letter dated May 8, 2017 |
About Smith Micro Software, Inc. (NASDAQ:SMSI)
Smith Micro Software, Inc. is a provider of software solutions. The Company operates through two segments: Wireless and Graphics. The Company offers multi-platform, modular solutions organized into three product families, including NetWise, CommSuite and QuickLink. For mobile network operators, NetWise helps reduce cellular congestion and optimize data traffic across third-generation (3G), fourth-generation (4G) and wireless fidelity (Wi-Fi) networks. Graphics segment includes its consumer-based products, such as Poser, Anime Studio, Manga Studio, MotionArtist and StuffIt. The Graphics segment develops a range of software, including graphic design and animation, compression and personal computer (PC)/Mac utilities, for consumers, professional artists and educators. The Company also offers Family Safety platform for family locator and parental controls. Smith Micro Software, Inc. (NASDAQ:SMSI) Recent Trading Information
Smith Micro Software, Inc. (NASDAQ:SMSI) closed its last trading session down -0.09 at 1.15 with 168,646 shares trading hands.
