Current Report Filing (8-k)
April 04 2016 - 6:22AM
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 4, 2016
AUDIOEYE, INC.
DELAWARE
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333-177463
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20-2939845
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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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5210 E. Williams Circle, Suite 750
Tucson, Arizona 85711
(Address of principal executive offices)
(866) 331-5324
(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 (See General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act of 1933 (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(e) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02 Results of Operations
and Financial Condition
On April 4, 2016, AudioEye, Inc. issued
a press release reporting results of operations for 2015 and Q1 2016. A copy of the press release is furnished herewith as Exhibit
99.1.
AudioEye key business results include unaudited cash
contract sales bookings for the months of December 2015 through March 2016 of $638,147 including several household brands across
a variety of industries. The pipeline of companies with proposals or contracts has continued to expand and is currently approximately
$2,397,494 million. A similar pipeline report was approximately $945,045 at the end of September, 2015. This pipeline should be
viewed in the context of our limited operating history which does not yet provide us enough information or evidence to reliably
estimate conversion rates from a prospective customer to a customer with a signed contract.
Non-GAAP Financial Measures
AudioEye has provided in this release information
related to bookings that has not been prepared in accordance with GAAP. AudioEye uses this non-GAAP financial measure internally
in analyzing its financial results and believes it is useful to investors, as a supplement to GAAP measures, in evaluating our
ongoing operational performance.
Non-GAAP financial measures should not be considered
in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Our use of non-GAAP financial
measures may not be consistent with the presentations by similar companies in our industry.
Bookings are comprised of the total value of new customer
contracts closed during a specified period, including license, maintenance, services, term license and subscription renewals, that
we believe to be firm commitments to provide our software solutions and related services. Bookings by their nature are significantly
based on estimates and judgments that we make regarding total contract values, and our bookings growth projections are not meant
as a substitute measure for revenue in accordance with GAAP. We believe our annual bookings growth projection is useful to investors
as an additional means to reflect our annual business performance.
These non-GAAP estimates are not measurements of
financial performance prepared in accordance with GAAP, and we are unable to reconcile these forward-looking non-GAAP financial
measures to their directly comparable GAAP financial measures because the information described above which is needed to complete
a reconciliation is unavailable at this time without unreasonable effort.
Item 8.01 Other Events
On April 4,
2016, the AudioEye, Inc. issued a press release with respect to a conference call discussing 2015 and Q1 2016 results.
A
copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01 Exhibits
Exhibit 99.1 Press Release dated April
4, 2016.
The information furnished in this Current Report under
Item 2.02, Item 8.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under
the Securities of Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in
such filing.
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.
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Date: April 4, 2016
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AUDIOEYE, INC.
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By:
/s/ TODD BANKOFIER
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Todd Bankofier, Chief Executive Officer
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Index to Exhibits
Exhibit No.
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Description
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99.1
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Press Release dated April 4, 2016.
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