Current Report Filing (8-k)
July 24 2020 - 4:46PM
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): July
24, 2020
DPW HOLDINGS, INC.
(Exact name of registrant as specified in
its charter)
Delaware
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001-12711
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94-1721931
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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201 Shipyard Way, Suite E, Newport Beach,
CA 92663
(Address of principal executive offices)
(Zip Code)
(949) 444-5464
(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:
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Written communications pursuant to Rule 425 under the Securities Act (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(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading
Symbol(s)
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Name of each exchange on which registered
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Common Stock, $0.001 par value
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DPW
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NYSE American
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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 ¨
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 3.01.
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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On July 24, 2020, DPW Holdings, Inc. (the
“Company”) was notified by the NYSE American (the “Exchange”) that the Company has failed
to comply with Section 1003(a)(ii) and (iii) of the Exchange’s Company Guide (the “Listing Standards”),
which require that the Company maintain stockholders’ equity of no less than $6,000,000 because the Company has reported
losses from continuing operations and/or net losses in five of its most recent fiscal years ended December 31, 2019. The Company
had disclosed in its Form 10-Q filed for the fiscal period ended March 31, 2020 that its stockholders’ equity was approximately
$2.5 million.
Under the applicable NYSE American listing
rules, the Company must by August 23, 2020 submit a compliance plan that demonstrates how it intends to regain compliance with
the Listing Standards within 18 months of the receipt of the notice, or January 24, 2022.
The Company is confident that it will be
able to submit a plan acceptable to the NYSE American within the requisite period and further that it will promptly be able to
demonstrate that it has regained compliance with the Listing Standards.
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Item 9.01
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Exhibits and Financial Statements
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(d) Exhibits:
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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DPW HOLDINGS, INC.
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Dated: July 24, 2020
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/s/ Henry Nisser
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Henry Nisser
Executive Vice President and General Counsel
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