-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RYO2NyRUioJWLMfR34l+hMFlkXU2NWHzOaLF+OeHqNTNRGkTuhNHjE+CEeF3fL7s lBDoOYXjEsskmE2S5Zmxfw== 0001169232-05-002266.txt : 20050422 0001169232-05-002266.hdr.sgml : 20050422 20050422163809 ACCESSION NUMBER: 0001169232-05-002266 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050420 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing FILED AS OF DATE: 20050422 DATE AS OF CHANGE: 20050422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTI INDUSTRIES CORP CENTRAL INDEX KEY: 0001042187 STANDARD INDUSTRIAL CLASSIFICATION: FABRICATED RUBBER PRODUCTS, NEC [3060] IRS NUMBER: 362848943 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23115 FILM NUMBER: 05767865 BUSINESS ADDRESS: STREET 1: 22160 N PEPPER RD CITY: BARRINGTON STATE: IL ZIP: 60010 MAIL ADDRESS: STREET 1: 22160 N PEPPER RD CITY: BARRINGTON STATE: IL ZIP: 60010 8-K 1 d63495_8k.htm CURRENT REPORT

 

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, 2005

 

 

CTI INDUSTRIES CORPORATION

(Exact name of registrant as specified in its charter)

 

 

Illinois

0-23115

36-2848943

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)

 

 

 

22160 North Pepper Road, Barrington, IL

60010

(Address of principal executive offices)

(Zip Code)

 

Registrant’s telephone number, including area code (847) 382-1000

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K 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 (17CFR 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, 2005, CTI Industries Corporation (“CTI” or the “Company”) received a letter from the NASDAQ Stock Market Inc.’s (“NASDAQ”) staff indicating that CTI is not in compliance with NASDAQ Marketplace Rule 4310 (c) (14), which requires listed companies such as CTI to file with NASDAQ copies of all reports filed or required to be filed with the U.S. Securities and Exchange Commission. Since the Company has to date failed to file its Annual Report on Form 10-K with the SEC, the Company’s securities are, therefore, subject to delisting from the NASDAQ National Market. NASDAQ has modified and appended an “E” to the trading symbol for CTI’s common stock (CTIBE), which will remain until CTI has remedied its filing non-compliance. Under the terms of the notice and NASDAQ rules, delisting of CTI’s stock will be stayed if the Company files with NASDAQ an appeal of the Staff determination set forth in the notice to the Company on or before April 27, 2005. Further, the Company understands that, if it does file its Annual Report on Form 10-K on or before April 27, 2005 an appeal will not be required and no action to delist the Company’s stock will be taken.

 

The Company believes that it will be able to file its Annual Report on Form 10-K on or before April 27, 2005 and, in any event, does intend to file an appeal and request for hearing with NASDAQ Listing Qualifications Panel on or before that date, if such filing becomes necessary due to the non-filing of the Form 10-K by that date. If an appeal and request for hearing are filed, there can be no assurance that the Panel designated to review the matter will grant the Company’s request for continued listing.

 

 

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.

 

 

CTI Industries Corporation.

 

 

(Registrant)

 

 

 

 

 

 

 

Date: April 22, 2005

By:

/s/ Howard W. Schwan

 

 

Howard W. Schwan, President

 

 

2

 


 

 

EXHIBIT INDEX

 

Sequential

Exhibit

 

Page Number

Number

Document

 

 

 

4

99.1

Press Release entitled “CTI Industries Corporation
Receives NASDAQ Notice of Possible Delisting”

 

 

 

3

 


 EX-99.1 2 d63495_ex99-1.htm PRESS RELEASE

 

 

EXHIBIT 99.1

 

NEWS RELEASE

 

 

For Immediate Release

 

For Further Information Contact:

 

 

Stephen M. Merrick

 

Mary Ellen Dammyer

 

Executive Vice President

 

Investor Relations

 

(847) 382-1000

 

(847) 382-1000

 

CTI INDUSTRIES CORPORATION RECEIVES NASDAQ

NOTICE OF POSSIBLE DELISTING

 

BARRINGTON, ILLINOIS, April 22, 2005 — CTI Industries Corporation (NASDAQ Small Cap-CTIBE), an international manufacturer and marketer of foil and latex balloons and specialty, laminated and printed films, today reported that it has received a notice from The Nasdaq Stock Market that the Company currently fails to comply with the requirements for continued listing of its common stock on the NASDAQ SmallCap Stock Market by reason of the fact that the Company has failed to file its Annual Report on Form 10-K on a timely basis and that its securities are, therefore, subject to delisting from this Market. Under the terms of the notice and NASDAQ rules, delisting of the Company’s stock will be stayed if the Company files with NASDAQ an appeal of the Staff determination set forth in the notice to the Company on or before April 27, 2005. Further, the Company understands that, if it does file its Annual Report on Form 10-K on or before April 27, 2005 an appeal will not be required and no action to delist the Company’s stock will be taken.

 

The Company believes that it will be able to file its Annual Report on Form 10-K on or before April 27, 2005 and, in any event, does intend to file an appeal and request for hearing with NASDAQ on or before that date, if such filing becomes necessary due to the non-filing of the Form 10-K by that date. If an appeal and request for hearing are filed, there can be no assurance that the Panel designated to review the matter will grant the Company’s request for continued listing.

 

This press release may contain forward-looking statements within the meaning of Section 17A of the Securities Act and Section 21E of the Securities Exchange Act. Actual results could differ materially from those projected or implied in the forward-looking statements (including the statement that “The Company believes that it will be able to file its Annual Report on Form 10-K on or before April 27, 2005”), which involve a number of risks and uncertainties, and such statements should also be considered in conjunction with cautionary statements contained in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K.

 

4

 

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