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) August 27, 2012 (August 27, 2012)
NetSol Technologies Inc.
(Exact name of registrant as specified in its charter)
Nevada |
000-22773 |
95-4627685 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
24025 Park Sorrento, Suite 410, Calabasas, CA |
91302 |
| (Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: (818) 222-9195 / (818) 222-9197
________________________________________________________________________________
(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 8.01. Other Events.
On August 27, 2012, NetSol Technologies, Inc. (the "Company") issued a press release announcing that it regained compliance with the Nasdaq Stock Market Listing Rules that require maintenance of a minimum $1.00 bid price. On August 27, 2012, the Company received notification from The Nasdaq Listing Qualifications department that the Company had regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) after maintaining a closing bid price equal to or in excess of $1.00 for a minimum of ten consecutive trading days and that the Company's noncompliance with that rule, as announced on September 2, 2011, had been rectified.
A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release issued by the Company on August 27, 2012.
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.
| NetSol Technologies Inc.
(Registrant) |
||
| August 27, 2012
(Date) |
/s/ NAJEEB GHAURI
Najeeb Ghauri Chief Executive Officer |
|
| August 27, 2012
(Date) |
/s/ BOO-ALI SIDDIQUI
Boo-Ali Siddiqui Chief Financial Officer |
EXHIBIT 99.1
CALABASAS, Calif., Aug. 27, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has received a letter from the listing qualifications department staff of The NASDAQ stating that the Company has regained compliance with NASDAQ Stock Market Listing Rules that require maintenance of a minimum $1.00 per share bid price.
Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2), and this matter is now closed.
"We are pleased that this matter is now behind us and look forward to continuing our concentration on pursuing growth opportunities and enhancing value for all stakeholders," said Najeeb Ghauri, CEO of NetSol.
About NetSol Technologies
NetSol Technologies, Inc. (www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol's product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company's clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh.
Investors can receive news releases and invitations to special events by accessing our online signup form at http://bit.ly/NetSol_Investor_Signup_Form.
The NetSol Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9832
CONTACT: PondelWilkinson Inc.
Matt Sheldon
(310) 279-5980
investors@netsoltech.com