Tandy Leather Factory, Inc. (NASDAQ:TLF) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

ME Staff 8-k
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Tandy Leather Factory, Inc. (NASDAQ:TLF) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Tandy Leather Factory, Inc. (NASDAQ:TLF) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

(a) On August 21, 2019, Tandy Leather Factory, Inc. (the \”Company\”) received a letter (the \”Nasdaq Letter\”) from The Nasdaq Stock Market LLC (\”Nasdaq\”) stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the three- and six-months ended June 30, 2019 (the \”Form 10-Q\”) with the Securities and Exchange Commission (the \”SEC\”), the Company is not in compliance with the continued listing requirements of Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1), in pertinent part, requires the Company to timely file all required periodic reports with the SEC. For more information regarding the delay in filing the Form 10-Q, please see the Company\’s Current Report on Form 8-K filed on August 14, 2019.
Under the Nasdaq Listing Rules, the Company has until October 21, 2019 to submit a plan to Nasdaq to regain compliance. If the Company is unable to file the Form 10-Q prior to October 21, 2019, the Company intends to submit such a plan to Nasdaq on or before the deadline. If Nasdaq accepts the Company\’s plan, it can grant an exception of up to 180 calendar days after the applicable due date for the filing of the Form 10-Q, or until February 17, 2020, to regain compliance. If Nasdaq does not accept the Company\’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
On August 23, 2019, the Company issued a press release announcing its receipt of the Nasdaq Letter. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits

99.1 Press Release dated August 23, 2019

Forward Looking Statements
Certain statements contained in this report and other materials the Company files with the SEC, as well as information included in oral statements or other written statements made or to be made by the Company, other than statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as \”may,\” \”will,\” \”could,\” \”should,\” \”anticipate,\” \”believe,\” \”budgeted,\” \”expect,\” \”intend,\” \”plan,\” \”project,\” \”potential,\” \”estimate,\” \”continue,\” \”outlook,\” \”forecast\” or \”future,\” variations thereof or other similar statements. Please refer to the Company\’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 for additional information concerning these and other uncertainties that could negatively impact the Company. The Company assumes no obligation to update or otherwise revise its forward-looking statements, except as required by law.

TANDY LEATHER FACTORY INC Exhibit
EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1   FOR IMMEDIATE RELEASE August 23,…
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About Tandy Leather Factory, Inc. (NASDAQ:TLF)

Tandy Leather Factory, Inc. is a retailer and a wholesale distributor of a range of leather and related products. The Company’s products include leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company also manufactures leather lacing and some of its do-it-yourself kits. The Company operates through three segments: Wholesale Leathercraft, Retail Leathercraft and International Leathercraft. The Wholesale Leathercraft segment consists of a chain of wholesale stores operating under the name, The Leather Factory, located in North America. The Retail Leathercraft segment consists of a chain of retail stores operating under the name, Tandy Leather Company, located in North America. The International Leathercraft segment sells to both wholesale and retail customers. The Company has approximately four stores, two located in the United Kingdom, one located in Australia and one located in Spain.