Globalscape’s Compliance Plan Accepted By NYSE Regulation
27 Février 2018 - 10:15PM
Business Wire
GlobalSCAPE, Inc. (NYSE American: GSB), a worldwide leader in
the secure movement and integration of data, announced today that
on February 22, 2018, the Company was notified by NYSE Regulation
that it has accepted the Company’s plan to regain compliance with
the continued listing standards of the Company Guide
(the “Company Guide”) of NYSE American LLC (the “Exchange”) by
June 15, 2018, subject to periodic review by NYSE Regulation for
compliance with the initiatives set forth in the plan.
The notification from NYSE Regulation specified that the Company
is not in compliance with Sections 134 and 1101 of the Company
Guide as a result of the Company’s failure to timely file its Form
10-Q for the quarter ended March 31, 2017 (the “Delayed First
Quarter 10-Q”), its Form 10-Q for the quarter ended June 30, 2017
(the “Delayed Second Quarter 10-Q”), its Form 10-Q for the quarter
ended September 30, 2017 (the “Delayed Third Quarter 10-Q”) and its
Form 10-K for the year ended December 31, 2016 (the “Delayed 10-K”)
with the U.S. Securities and Exchange Commission (the “SEC”). If
the Company is not in compliance with the Exchange’s continued
listing standards by August 22, 2018, the maximum time allowed
under the Company Guide, or if the Company does not make progress
consistent with the plan during the plan period, the staff of the
Exchange will initiate delisting proceedings as appropriate.
As previously disclosed in its Current Reports on Form 8-K filed
with the SEC on August 28, 2017 and September 13, 2017, in the
event that the Company failed to regain compliance with the
Exchange’s continued listing standards by February 22, 2018, the
Exchange could allow the Company’s securities to be traded for up
to an additional six-month period. In anticipation of being unable
to regain compliance by February 22, 2018 and in order to maintain
its listing, the Company submitted a plan of compliance on February
8, 2018, addressing how it intends to regain compliance with the
continued listing standards of the Exchange by June 15, 2018
through the filing of an amended Delayed First Quarter 10-Q, the
Delayed Second Quarter 10-Q, the Delayed Third Quarter 10-Q and an
amended Delayed 10-K with a reissued audit report with the SEC. The
Company’s plan was accepted by NYSE Regulation on
February 22, 2018.
The notice of acceptance from NYSE Regulation has no immediate
impact on the listing of the Company’s common stock, which will
continue to trade on the Exchange under the symbol “GSB”, subject
to periodic review by NYSE Regulation. The listing of the Company’s
common stock on the Exchange is being continued pursuant to an
extension during the plan period. As previously disclosed, a “.LF”
indicator is being disseminated with the Company’s ticker symbol to
signify the Company’s late filing status.
About Globalscape
GlobalSCAPE, Inc. (NYSE American: GSB) is a pioneer in securing
and automating the movement and integration of data seamlessly in,
around and outside your business, between applications, people and
places, in and out of the cloud. Globalscape provides cloud
services that automate your work, secure your data and integrate
your applications – while giving visibility to those who need it.
Globalscape makes business flow brilliantly. For more information,
visit http://www.globalscape.com or follow the blog and Twitter
updates.
Safe Harbor Statement
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
including, without limitation, GlobalSCAPE’s expectations as to the
timing of the filing of an amended Delayed First Quarter 10-Q, the
Delayed Second Quarter 10-Q, the Delayed Third Quarter 10-Q and an
amended Delayed 10-K with a reissued audit report with the SEC.
These forward-looking statements involve risks and
uncertainties, and actual results could vary materially from these
forward-looking statements. Factors that may cause future results
to differ materially from management’s current expectations
include, among other things, the discovery of additional
information relevant to the internal investigation previously
announced by the Company; the conclusions of the Company’s Audit
Committee (and the timing of the conclusions) concerning matters
relating to the internal investigation; the timing of the review
by, and the conclusions of, GlobalSCAPE’s independent registered
public accounting firm regarding the internal investigation and
GlobalSCAPE’s financial statements; the possibility that additional
errors may be identified; the risk that the completion of the
restatement of the Company’s financial statements and the filing of
the related quarterly and annual report amendments will take longer
than expected; pending litigation and the possibility of further
legal proceedings adverse to GlobalSCAPE resulting from the
restatement or related matters; the costs associated with the
restatement; and the risk that GlobalSCAPE will be unable to meet
the continued listing standards of the Exchange. GlobalSCAPE
disclaims any obligation to update information contained in these
forward-looking statements whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20180227006225/en/
GlobalSCAPE Press ContactPerry Street
CommunicationsJonathan Morgan, 214-965-9955 or
212-333-5525jmorgan@perryst.comorInvestor Relations
ContactMatt Glover or Najim Mostamand, CFA,
210-801-8489IR@globalscape.com
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