marijuana stocks

Form 8-K for VAPOR CORP.


27-Jan-2016

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Trans

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.On January 22, 2016, Vapor Corp. (the “Company”) received a letter from the Listing Qualifications Staff (the “Staff”) of The NASDAQ Stock Market LLC (“Nasdaq”) indicating that the Staff had determined to delist the Company’s securities based upon its concerns that the Company’s continued listing on Nasdaq, particularly pursuant to a grace period within which to regain compliance with the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5450, is no longer in the public interest as that concept is described in Nasdaq Listing Rule 5110 (the “Staff Determination”). Specifically, the Staff indicated that, given the potential for dilution of the Company’s stockholders that may be caused by the cashless exercise provision of the Company’s Series A warrants, the Staff believes that the grace period provided to the Company to regain compliance with the $1.00 bid price requirement is no longer warranted.

As previously disclosed, on September 14, 2015, the Staff notified the Company that, based upon its non-compliance with the minimum $1.00 bid price requirement for the prior 30 consecutive business days, the Company – in accordance with the Nasdaq Listing Rules – had been provided a grace period, through March 14, 2016, to regain compliance with the minimum bid price requirement.

The Company plans to request a hearing before the Nasdaq Listing Qualifications Panel (the “Panel”), which will stay any action arising from the Staff Determination until the Panel renders a decision subsequent to the hearing. The Company will address the Staff’s concerns and request the continued listing of its common stock at the hearing before the Panel. There can be no assurance, however, that the Panel will grant the Company’s request for continued listing on Nasdaq.

 

Item 8.01. Other Events.On January 26, 2016, the Company issued a press release announcing its receipt of the notice from Nasdaq (described above). A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits(d) Exhibits.

Exhibit
No. Exhibit

99. 1 Press release dated January 22, 2016.

 


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
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