0001354457-20-000058.txt : 20200205
0001354457-20-000058.hdr.sgml : 20200205
20200205103939
ACCESSION NUMBER: 0001354457-20-000058
CONFORMED SUBMISSION TYPE: 25-NSE
CONFIRMING COPY:
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20200205
DATE AS OF CHANGE: 20200205
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: USA TECHNOLOGIES INC
CENTRAL INDEX KEY: 0000896429
STANDARD INDUSTRIAL CLASSIFICATION: CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
IRS NUMBER: 232679963
STATE OF INCORPORATION: PA
FISCAL YEAR END: 0630
FILING VALUES:
FORM TYPE: 25-NSE
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-33365
BUSINESS ADDRESS:
STREET 1: 100 DEERFIELD LANE
STREET 2: SUITE 300
CITY: MALVERN
STATE: PA
ZIP: 19355
BUSINESS PHONE: 6109890340
MAIL ADDRESS:
STREET 1: 100 DEERFIELD LANE
STREET 2: SUITE 300
CITY: MALVERN
STATE: PA
ZIP: 19355
FORMER COMPANY:
FORMER CONFORMED NAME: USA ENTERTAINMENT CENTER INC
DATE OF NAME CHANGE: 19931029
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: The Nasdaq Stock Market LLC
CENTRAL INDEX KEY: 0001354457
IRS NUMBER: 521165937
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 25-NSE
BUSINESS ADDRESS:
STREET 1: One Liberty Plaza
CITY: New York
STATE: NY
ZIP: 10006
BUSINESS PHONE: 301-978-4144
MAIL ADDRESS:
STREET 1: Office of General Counsel
STREET 2: 805 King Farm Blvd.
CITY: ROCKVILLE
STATE: MD
ZIP: 20850
25-NSE
1
primary_doc.xml
X0203
0001354457
The Nasdaq Stock Market LLC
0000896429
USA TECHNOLOGIES INC
001-33365
100 Deerfield Lane
Suite 300
Malvern
PA
PENNSYLVANIA
19355
610-989-0340
Common Stock and Preferred Stock
17 CFR 240.12d2-2(b)
Aravind Menon
Hearings Advisor
2020-02-05
EX-99.25
2
usatdelistreason.txt
On October 2, 2018, Nasdaq Listing Qualifications staff (Staff)
notified USA Technologies Inc. (Company) that was delinquent in
filing its Form 10-K for the fiscal year ended June 30, 2018,
in violation of Listing Rule 5250(c)(1). On November 13, 2018,
Staff granted the Company until March 12, 2019 to regain
compliance. After discussions with the Company, Staff determined
that the Company would not be able to regain compliance with
its filing requirements by the March 12, 2019 deadline.
Accordingly, Staff notified the Company, on February 26, 2019,
of its intention to delist the Company securities. The Company
requested a hearing of the Staff determination, which occurred
on April 11, 2019. At the hearing, the Company asked the Panel
to grant it until September 9, 2019 to file its delinquent reports.
On April 17, 2019, the Panel granted the Company exception
request. On August 30, 2019, the Company notified the Panel that
it would not be able to regain compliance with Rule 5250(c)(1)
by the September 9, 2019 deadline. It requested a further
extension to regain compliance until September 23, 2019.
The Panel granted the additional exception on September 6, 2019.
On September 24, 2019, the Panel issued a decision to delist the
Company securities after the Company failed to file any of its
delinquent reports by September 23. On October 8, 2019, the
Company appealed this decision of the Panel to the Nasdaq Listing
and Hearings Review Council (Listing Council). On October 9,
2019, the Company filed its delinquent financial reports. On
November 22, 2019, the Listing Council issued a decision that
affirmed the Panel decision to delist the Company securities.
The Listing Council determined that it lacked discretion under
Listing Rule 5820(d)(4) to grant the Company any additional
exception to accommodate the Company belated efforts to regain
compliance. On January 29, 2020, the Company was provided notice
that the Nasdaq Board of Directors declined to call the Council
decision for review pursuant to Rule 5825(a).