ltrx_8k-012109.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
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)
LANTRONIX,
INC.
(Exact
name of registrant as specified in its charter)
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DELAWARE
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1-16027
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33-0362767
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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15353
Barranca Parkway
Irvine,
California 92618
(Address
of principal executive offices, including zip code)
(949) 453-3990
(Registrant's
telephone number, including area code)
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):
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[
] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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[
] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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[
] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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[
] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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On
December 23, 2008, Lantronix, Inc. (the "Company") received written notification
that the Nasdaq Stock Market ("NASDAQ") has extended for three months the
suspension period related to the enforcement of the rules requiring a minimum $1
closing bid price or a minimum market value of publicly held shares. NASDAQ has
said that it will not take any action to delist any security for these concerns
during the suspension period. NASDAQ has stated that this suspension will remain
in effect until Monday, April 20, 2009. As a result of this suspension, the
Company now has until June 26, 2009 to regain compliance with the minimum bid
price rule. The Company previously had until March 26, 2009 to regain compliance
with the minimum bid price rule.
As a
result of the suspension, if, at any time before June 26, 2009, the bid price of
the Company’s common stock closes at $1.00 per share or more for a minimum of 10
consecutive business days and otherwise continues to meet all other listing
requirements, NASDAQ will provide written notification that the Company has
achieved compliance with the minimum bid price rule.
If the
Company does not regain compliance with the minimum bid price rule by June 26,
2009, NASDAQ will provide written notification that its securities will be
delisted. At that time, the Company may appeal NASDAQ’s determination to delist
its securities to a Listing Qualifications Panel.
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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Date:
January 21, 2009
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LANTRONIX,
INC., a Delaware corporation
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By:
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/s/ Reagan Y. Sakai |
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Reagan
Y. Sakai
Chief
Financial Officer
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