Boxlight Corp — Delisting Announcement 2020

May 21, 2020

8-K 1 form8-k.htm

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (date of earliest event reported): May 15, 2020

BOXLIGHT CORPORATION

(Exact name of registrant as specified in its charter)

Nevada	8211	46-4116523
(State
of Incorporation)	(Primary
Standard Industrial Classification
Code Number.)	(IRS
Employer Identification
No.)

BOXLIGHT CORPORATION

1045 Progress Circle

Lawrenceville, Georgia 30043

(Address Of Principal Executive Offices) (Zip Code)

678-367-0809

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

| [ ] | Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| --- | --- |
| [ ] | Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

Securities registered pursuant to Section 12(b) of the Act:

| Title
of each class | Trading
Symbol(s) | Name
of each exchange on which registered |
| --- | --- | --- |
| Common
Stock $0.0001 per share | BOXL | The
Nasdaq Stock Market LLC |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

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

On May 15, 2020, Boxlight Corporation, a Delaware corporation (“Boxlight”), received notice (the “Notice”) from The Nasdaq Stock Market (“Nasdaq”) that the Company is not in compliance with Nasdaq’s Listing Rule 5550(b)(1), as the Company’s stockholders’ equity had fallen below the required $2.5 million equity standard required for continued listing. As of the Company’s most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission on May 13, 2020, the Company’s stockholder equity was $(647,653) and was $(672,308) as of March 31, 2020, as reported in its Quarterly Report on Form 10-Q filed on May 15, 2020.

The notification of noncompliance has no immediate effect on the listing or trading of the Company’s Class A common stock on the Nasdaq Capital Market under the symbol “BOXL.” However, the Company has 45 days from the date it receives Notice to file a plan of compliance with Nasdaq. In the event Nasdaq accepts the Company’s plan of compliance, the Company will be given an extension of up to 180 days from the date of the Notice to regain compliance. The Company intends to submit a plan of compliance within the allowed time period.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

| Dated:
May 21, 2020 | |
| --- | --- |
| BOXLIGHT
CORPORATION | |
| By: | /s/
Takesha Brown |
| Name: | Takesha
Brown |
| Title: | Chief
Financial Officer |

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