Current Report Filing (8-k)
April 27 2017 - 6:09AM
Edgar (US Regulatory)
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):
April 20, 2017
DGSE
COMPANIES, INC.
(Exact
Name of Registrant as Specified in Charter)
Nevada
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1-11048
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88-0097334
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(State or other jurisdiction of
Incorporation)
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(Commission File Number)
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(IRS Employer Identification
No.)
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13022 Preston Road
Dallas, Texas 75240
(Address of
principal executive offices)
(972) 587-4049
(Registrant’s
telephone number)
Not Applicable
(Former Name or
former address, if changed since last report)
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))
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing
On April 20, 2017, DGSE Companies, Inc. (the “Company”) was notified by
the NYSE MKT LLC (the “MKT”) that the Company continues to be in
non-compliance with certain MKT continued listing standards relating to
stockholders’ equity. Specifically, the Company is not in compliance
with Section 1003(a)(iii) of the NYSE MKT Company Guide (requiring
stockholders’ equity of $6.0 million or more if it has reported losses
from continuing operations and/or net losses in its five most recent
fiscal years) and Section 1003(a)(ii) (requiring stockholders’ equity of
$4.0 million or more if it has reported losses from continuing
operations and/or net losses in its four most recent fiscal years). As
of December 31, 2016, the Company had stockholders’ equity of
approximately $5.9 million and net losses in its five most recent fiscal
years ended December 31, 2016.
As previously reported, the Company has submitted a plan to regain
compliance with MKT listing standards. If the Company does not regain
compliance with those standards by October 12, 2017, or does not make
progress consistent with the plan, the MKT staff may commence delisting
proceedings.
The notice has no immediate impact on the listing of the Company’s
common stock, which will continue to trade under the symbol “DGSE” with
an added designation of “.BC” to indicate that the Company is not in
compliance with the MKT’s listing standards. If the common stock
ultimately were to be delisted for any reason, it could (1) reduce the
liquidity and market price of the common stock and (2) negatively impact
the ability of the Company to conduct equity financings and access the
public capital markets.
As required under by the MKT, the Company issued a press release on
April 26, 2017, announcing that it had received the notice of
noncompliance. A copy of this press release is attached as Exhibit 99.1
to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
The exhibits listed in the following Exhibit Index are filed as part of
this Current Report on Form 8-K.
Exhibit Number
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Description
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99.1
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Press Release Dated April 26, 2017
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SIGNATURE
Pursuant to
the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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DGSE Companies, Inc.
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By:
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/s/ John R. Loftus
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John R. Loftus
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Chief Executive Officer
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Date:
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April 26, 2017
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EXHIBIT INDEX
Exhibit
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Number
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Description
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99.1
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Press Release Dated April 26, 2017
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