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.
Exhibit No. Description
99.1 Press release of Qualstar Corporation
dated May 29, 2014