InterCloud Systems Inc. (ICLD)

[236T568]

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On June 24, 2016, InterCloud Systems, Inc., a Delaware corporation (the “Company”), received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market (“NASDAQ”) indicating that NASDAQ has determined that the Company has failed to comply with NASDAQ Listing Rule 5550(b)(1). NASDAQ Listing Rule 5550(b)(1) requires that companies listed on NASDAQ maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. The Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 reported stockholders’ equity below the $2,500,000 minimum requirement for continued listing and, as of the date of the Notice, NASDAQ determined that the Company did not meet the alternatives of market value of listed securities or net income from continuing operations.

The Notice provides that the Company has 45 calendar days to submit a plan to regain compliance with NASDAQ’s continued listing requirements. The Company intends to timely submit a plan to regain compliance to NASDAQ and, if the plan is accepted, NASDAQ can grant an exception of up to 180 calendar days from the date of the Notice for the Company to evidence compliance.


https://www.sec.gov/Archives/edgar/data/1128725/000121390016014632/f8k062416_intercloudsystems.htm