Encision Inc - Current report filing (8-K)
September 30 2008 - 12:32PM
Edgar (US Regulatory)
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
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Date
of Report (Date of earliest event reported)
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September
24, 2008
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ENCISION
INC.
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(Exact
name of registrant as specified in its charter)
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Colorado
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0-28604
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84-1162056
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
No.)
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6797
Winchester Circle, Boulder, Colorado
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80301
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code
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(303)
444-2600
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(Former
name or former address, if changed since last report.)
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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):
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o
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
Soliciting
material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
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o
Pre-commencement
communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
Pre-commencement
communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item
3.01
Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of
Listing.
On
September 24, 2008, Encision Inc. (the “Company”) received notice from the
American Stock Exchange (the “Amex”) indicating that, due to Encision’s
continued failure to comply with certain of the Amex's continued listing
standards, the Amex intends to immediately file a delisting application with
the
Securities and Exchange Commission to strike Encision’s common stock from the
Amex.
On
July
16, 2007, the Company received notice from the Amex that it was not in
compliance with Section 1003(a)(ii) of the Amex Company Guide due to
stockholders’ equity of less than $4,000,000 and losses from continuing
operations and net losses in three out of four of its most recent fiscal years.
The Company submitted a plan of compliance on August 15, 2007 advising the
Amex
of action that the Company would take to regain compliance by January 16, 2009.
The
Amex’s recent notice indicates that, based on a review of the Company’s Form
10-KSB for the year ended March 31, 2008, Form 10-Q for the period ended June
30, 2008 and information provided by the Company, the Amex has determined that
the Company has not made progress consistent with its plan of compliance and
that there is no basis for the Amex to conclude that the Company could regain
compliance by the January 16, 2009 deadline. Accordingly, the Amex has
determined that delisting procedures pursuant to Section 1009(e) of the Amex
Company Guide are warranted. The Company does not intend to appeal the
delisting.
The
notice requires the Company to file a press release disclosing receipt of the
notice. A copy of the press release is attached hereto as Exhibit
99.1.
Item
9.01
Financial
Statements and Exhibits.
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(d)
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Exhibits.
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99.1
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Press
Release issued by ENCISION INC., September 30,
2008.
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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.
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ENCISION
INC.
(Registrant)
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Date
September
30, 2008
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/s/
Marcia K. McHaffie
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Marcia
K. McHaffie
Controller
Principal
Accounting Officer
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