Current Report Filing (8-k)
November 06 2019 - 5:11PM
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): October 31, 2019
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IDEAL POWER INC.
(Exact name of registrant as specified in
Charter)
Delaware
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001-36216
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14-1999058
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(State or other jurisdiction of
incorporation or organization)
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(Commission File No.)
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(IRS Employee Identification No.)
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4120 Freidrich Lane, Suite 100
Austin, Texas, 78744
(Address of Principal Executive Offices)
512-264-1542
(Issuer Telephone number)
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 (17 CFR 230.425)
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Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR240.14a-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-(c) under the Exchange Act (17 CFR 240.13(e)-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
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Name of
each exchange on which registered
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Common Stock
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IPWR
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NASDAQ Capital Market
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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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR §240.12b-2).
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. ¨
As previously reported
in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 21, 2019, Ideal Power Inc. (the
“Company”) was notified by the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”)
that the Company was not in compliance with the minimum stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1)
for continued listing on The Nasdaq Capital Market because the Company’s stockholders’ equity was below the required
minimum of $2.5 million, and, as of the date of the notification, the Company did not meet the alternatives of market value of
listed securities or net income from continuing operations. In accordance with Nasdaq Listing Rules, the Company had 45 calendar
days, or until October 3, 2019, to submit a plan to regain compliance.
The Company submitted
a plan of compliance on October 3, 2019 addressing how it intends to regain compliance with Nasdaq Listing Rule 5550(b). On October
31, 2019, Nasdaq notified the Company of approval of the compliance plan, and Nasdaq granted the Company an extension through November
30, 2019 to take action to evidence compliance with Nasdaq Listing Rule 5550(b), which will require, among other things, that the
Company demonstrate compliance within its periodic report for the fiscal year ending December 31, 2019. If the Company does
not regain compliance, the Company may be subject to delisting.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated: November 6, 2019
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IDEAL POWER INC.
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By:
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/s/ Timothy Burns
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Timothy Burns
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Chief Financial Officer
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