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QUALSTAR CORP FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits

May 30, 2014



Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On May 22, 2014, Qualstar Corporation (the "Company") received a notification from NASDAQ Stock Market LLC for not maintaining a minimum of $10,000,000 in stockholders' equity as required by NASDAQ Global Market Listing Rule 5054(b)(1)(A) based on the information disclosed in the Company's Form 10-Q for the period ended March 31, 2014. Qualstar stockholders' equity as of March 31, 2014 was $9,791,000. The Company has the option to either submit a plan to regain compliance with NASDAQ Global Market Listing Rule 5054(b)(1)(A) within 45 days, or, to file a transfer application to list the Company's securities on the NASDAQ Capital Market. The Company is currently considering its options.

On May 29, 2014, the Company issued a press release concerning the May 22, 2014 notice from NASDAQ, and a copy of that press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. Exhibit No. Description



99.1 Press release of Qualstar Corporation dated May 29, 2014.


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Source: Edgar Glimpses


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