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): January 10, 2014 (January 9, 2014)
InfoSonics Corporation
(Exact name of registrant as specified in its charter)
| Maryland | 001-32217 | 33-0599368 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
3636 Nobel Drive, Suite #325,
San Diego, CA 92122
(Address of principal executive offices)
Registrant’s telephone number, including area code: (858) 373-1600
Not Applicable
(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 (see General Instruction A.2. below):
| ¨ | 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 3.01. | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On January 10, 2014, the Company announced that on January 9, 2014 it received notification from the NASDAQ Stock Market indicating that the Company has regained compliance with NASDAQ Rule 5550(a)(2) in that the Company’s closing bid price has been at $1.00 per share or greater for at least 10 consecutive business days. The notification stated that the matter of the deficiency, which arose as of December 9, 2013, is now closed and the Company’s stock will continue to be listed and trade on The Nasdaq Capital Market.
| Item 8.01. | Other Events |
The disclosure set forth in response to Item 3.01 above is incorporated herein by this reference.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit |
Description | |
| 99.1 | Press Release of InfoSonics Corporation dated January 10, 2014. | |
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.
| InfoSonics Corporation | ||
| /s/ Vernon A. LoForti | ||
| Vernon A. LoForti | ||
| Date: January 10, 2014 | Vice President, Chief Financial Officer and Secretary | |
Exhibit 99.1
PRESS RELEASE
InfoSonics Regains Compliance with NASDAQ
Rule 5550(a)(2), $1.00 Minimum Bid Requirement
SAN DIEGO, January 10, 2014 – InfoSonics Corporation (NASDAQ: IFON) today announced that on January 9, 2014 it received notification from the NASDAQ Stock Market indicating that the Company has regained compliance with NASDAQ Rule 5550(a)(2) in that the Company’s closing bid price has been at $1.00 per share or greater for at least 10 consecutive business days. The notification stated that the matter of the deficiency, which arose as of December 9, 2013, is now closed and the Company’s stock will continue to be listed and trade on The Nasdaq Capital Market.
About InfoSonics Corporation
InfoSonics is a San Diego-based designer, manufacturer and provider of wireless handsets and related products to OEMs, carriers, distributors and consumers in the United States, Latin America, Europe, Africa and Asia Pacific. The company is committed to delivering quality products with innovative industrial designs that appeal to consumers and offer exceptional value. InfoSonics sells and supports its own line of products under the verykool® and other private label brands. Additional information can be found on our corporate website at www.infosonics.com and www.verykool.net.
Contact:
Vernon A. LoForti
Chief Financial Officer
vern.loforti@infosonics.com
858-373-1675
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