-----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, D91Nr8Af6WYjJdeFMDOnnNSjbj5RpYdMYFq7XtcHYc8mgwrAcHgtFAuOG6tOWd6E YCpmXmFlDZy3v412qKk2xg== 0001140361-07-025285.txt : 20071228 0001140361-07-025285.hdr.sgml : 20071228 20071228161635 ACCESSION NUMBER: 0001140361-07-025285 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071226 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071228 DATE AS OF CHANGE: 20071228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONCURRENT COMPUTER CORP/DE CENTRAL INDEX KEY: 0000749038 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 042735766 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13150 FILM NUMBER: 071332168 BUSINESS ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30097 BUSINESS PHONE: 6782584000 MAIL ADDRESS: STREET 1: 4375 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30097 FORMER COMPANY: FORMER CONFORMED NAME: MASSACHUSETTS COMPUTER CORP DATE OF NAME CHANGE: 19881018 8-K 1 form8k.htm CONCURRENT COMPUTER CORP 8-K 12-26-2007 form8k.htm


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):
December 26, 2007

Concurrent Computer Corporation
(Exact Name of Registrant as Specified in its Charter)
 
Delaware
0-13150
04-2735766
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification Number)

4375 River Green Parkway, Suite 100, Duluth, Georgia
30096
(Address of Principal Executive Offices)
(Zip Code)

Registrant’s telephone number, including area code:  (678) 258-4000

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:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
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 Standard; Transfer of Listing. 

On December 26, 2007, Concurrent Computer Corporation (the “Company”) received a Nasdaq Staff Deficiency Letter from the Listing Qualifications Department of The Nasdaq Stock Market (the “Staff”) confirming that the Company’s minimum bid price had fallen below $1.00 for 30 consecutive business days and that its securities are, therefore, subject to delisting from the Nasdaq Global Market pursuant to Marketplace Rule 4450(a)(5).  In accordance with Marketplace Rule 4450(e)(2), the Company is provided with one-hundred eighty (180) calendar days, or until June 23, 2008, to regain compliance with the minimum bid price requirement.  If, at any time prior to June 23, 2008, the minimum bid price of the Company’s publicly held shares closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Nasdaq staff will provide written notification that the Company has achieved compliance with the minimum bid price requirement.  If compliance with Rule 4450(a)(5) cannot be demonstrated by June 23, 2008, then the Nasdaq staff will provide written notification to the Company that its securities will be delisted.  At that time, the Company will be permitted to appeal Nasdaq’s determination to a Listings Qualifications Panel.

If the Company receives a Delisting Notice, the Company may appeal the Staff’s determination to delist its securities to a Listing Qualifications Panel.  Alternatively, the Company may apply to transfer its securities to the Nasdaq Capital Market.  The Staff will determine whether the Company meets The Nasdaq Capital Market initial listing criteria as set forth in Marketplace Rule 4310(c), except for the bid price requirement.  If it meets the initial listing criteria and the Company’s transfer application is approved, the Staff will notify the Company that it has been granted an additional 180-calendar day compliance period in order to regain compliance with a minimum $1.00 per share bid price requirement.  Currently, the Company meets the initial listing criteria (other than the bid price) for listing on The Nasdaq Capital Market, including the requirement for stockholders’ equity of at least $5 million.  As of September 30, 2007, the Company’s stockholders’ equity was approximately $48.5 million.
 
The Company will use its best efforts to regain compliance prior to June 23, 2008.
 
A copy of the Company's press release announcing the notification from Nasdaq is attached to this Current Report as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is filed herewith:

Exhibit No.
Description

99.1
Press Release dated December 28, 2007.

-2-


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.

Dated:  December 28, 2007.
 
 
CONCURRENT COMPUTER CORPORATION
     
     
 
By:
/s/ Emory O. Berry
   
Emory O. Berry
   
Chief Financial Officer
 
-3-

 
EXHIBIT INDEX

Exhibit Number and Description

Press release dated December 28, 2007.
 
 
-4- 

 
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm

EXHIBIT 99.1

Concurrent Computer Corporation Announces Nasdaq Deficiency Notice

ATLANTA, Ga.December 28, 2007– Concurrent Computer Corporation (Nasdaq: CCUR) announced today that it received a notification letter from the Nasdaq Stock Market on December 26, 2007, indicating that for 30 consecutive business days preceding the date of the letter, the bid price of Concurrent’s publicly held shares had closed below the $1.00 per share minimum bid price required for continued inclusion on the Nasdaq Global Market pursuant to Nasdaq Marketplace Rule 4450(a)(5).

In accordance with Nasdaq Marketplace Rule 4450(e)(2), Concurrent has one-hundred eighty calendar days, or until June 23, 2008, to regain compliance with the minimum bid price rule.  If, at any time prior to June 23, 2008, the bid price of the Concurrent’s publicly held shares closes at $1.00 or more for 10 consecutive business days, Concurrent will regain compliance.   If compliance cannot be demonstrated by June 23, 2008, then Nasdaq will provide written notification that Concurrent’s securities will be delisted.   At that time, Concurrent will be permitted to appeal Nasdaq’s determination to a Listing Qualifications Panel or apply to transfer its securities to the Nasdaq Capital Market.  If Concurrent meets the initial listing criteria and its transfer application is approved, the Staff will notify Concurrent that it has been granted an additional 180-calendar day compliance period in order to regain compliance with a minimum $1.00 per share bid price requirement.  Currently, Concurrent meets the initial listing criteria (other than the bid price) for listing on The Nasdaq Capital Market, including the requirement for stockholders’ equity of at least $5 million.  As of September 30, 2007, Concurrent’s stockholders’ equity was approximately $48.5 million.

“I want to reassure our shareholders, employees and customers that this notice from NASDAQ is strictly due to the stock price and we expect to avoid delisting.  In the past three quarters, we have generated cash from operations, and produced a solid balance sheet ending our first fiscal quarter with over $26 million in cash.  In the same period we improved margins to 53% and continued our cost reduction efforts.  We settled two legal matters favorably, and announced key wins in both our real time business and or video-on-demand business.  We believe our MediaHawk 4500 system restored our place as a technology leader in VOD with key ‘Start Over’ deployments at Bright House Networks and Time Warner Cable and a major new market win with Cox in Arizona,” said Gary Trimm, Concurrent president and chief executive officer. “We believe we are well-positioned with products, people, and services to address the growth spurt we expect in VOD worldwide and our restructured real-time business is beginning to show growth opportunities.  We look forward to reporting our second quarter results on January 25, 2008 when we can provide more current information,” Trimm concluded.


About Concurrent

Concurrent (NASDAQ: CCUR) is a leading provider of high-performance, real-time Linux software and solutions for commercial and government markets.  For over 40 years Concurrent’s best-of-breed products have enabled a range of time-critical solutions including: modeling and simulation; high speed data acquisition; visual imaging; low latency transaction processing; and on-demand television.  Concurrent’s on-demand television applications are utilized by major service providers in the cable and IPTV industries to deliver video-on-demand (VOD) and, through subsidiary company Everstream, measure the effectiveness of interactive television.  Concurrent is a global company with regional offices in North America, Europe, Asia and Australia, and has products actively deployed in more than 26 countries.  Concurrent’s products and services are recognized for being uniquely flexible, comprehensive, robust and reliable.  For more information, please visit www.ccur.com.



#     #     #

 
For more information, contact:
 
Concurrent Media Relations
 
Rebecca Biggs
 
GCI Group
 
404.242.8763
 
rbiggs@gcigroup.com
 
 
Concurrent Investor Relations
 
Kirk Somers
 
Concurrent Investor Relations
 
678.258.4000
 
investor.relations@ccur.com
 
 
Certain statements made or incorporated by reference in this release may constitute “forward-looking statements” within the meaning of the federal securities laws.  Statements regarding future events and development and our future performance, as well as our expectations, beliefs, plans, estimates, or projections relating to the future, are forward-looking statements within the meaning of these laws. These forward looking statements include, among others, statements regarding our products, stock price improvements, growth in the VOD and real-time markets, release schedules, and product development.  All forward-looking statements are subject to certain risks and uncertainties that could cause actual events to differ materially from those projected.  Such risks and uncertainties include our ability to meet customer schedules and demands and deployment and integration goals and our ability to meet Nasdaq listing standards.

Important risk factors are discussed in our Form 10-K filed with the Securities and Exchange Commission on August 31, 2007 and may be discussed in subsequent filings with the SEC. The risk factors discussed in such Form 10-K under the heading “Risk Factors” are specifically incorporated by reference in this press release.  Our forward-looking statements are based on current expectations and speak only as of the date of such statements. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise.

# # #

Concurrent Computer Corporation its logo and Everstream and its logo are registered trademarks of Concurrent Computer Corporation. All other Concurrent product names are trademarks of Concurrent while all other product names are trademarks or registered trademarks of their respective owners.  Linux® is used pursuant to a sublicense from the Linux Mark Institute.
 
 

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