LaPolla Industries 8-K 4-20-2007
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
Date
of Report (Date
of
earliest event reported):
April 20, 2007
(Exact
name of Registrant as Specified in its Charter)
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Delaware
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001-31354
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13-3545304
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(State
of Incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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Intercontinental
Business Park
15402
Vantage Parkway East, Suite 322, Houston, Texas 77032
(Address
of Principal Executive Offices and Zip Code)
(281)
219-4700
(Registrant's
Telephone Number, Including Area Code)
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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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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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o
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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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LAPOLLA
INDUSTRIES, INC.
FORM
8-K
APRIL
24, 2007
INDEX
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Page
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SECTION
3
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SECURITIES
AND TRADING MARKETS
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3
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Item
3.01
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Notice
of Failure to Satisfy a Continued Listing
Standard
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3
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SECTION
9
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FINANCIAL
STATEMENTS AND EXHIBITS
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3
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Item
9.01
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Financial
Statements and Exhibits
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3
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SIGNATURES
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4
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INDEX
OF EXHIBITS
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5
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SECTION
3 - SECURITIES AND TRADING MARKETS
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Item
3.01.
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Notice
of Failure to Satisfy a Continued Listing
Standard.
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On
April
20, 2007, we received notice from the American Stock Exchange (“Exchange”) that
after review of our Form 10-K for the fiscal year ended December 31, 2006,
the
Company does not meet certain of the Exchange’s continued listing standards.
Specifically, the notice provides that the Company is not in compliance with
Section 1003(a)(iii) of the Exchange’s Company Guide with shareholders’ equity
of less than $6 Million and losses from continuing operations and/or net losses
in its five most recent fiscal years. The notice requires us to submit a plan
by
May 21, 2007, advising the Exchange of the action we have taken, or will take,
to bring us into compliance with the continued listing standards identified
above within a maximum of six (6) months from receipt of the notification
(“Compliance Plan”).
If
the
Company does not submit a Compliance Plan, or submits a Compliance Plan that
is
not accepted, the Company may be subject to delisting proceedings. Furthermore,
if the Compliance Plan is accepted but the Company is not in compliance with
the
continued listing standards at the conclusion of the Compliance Plan Period
or
does not make progress consistent with the Compliance Plan during the Compliance
Plan Period, the Exchange staff will initiate delisting proceedings as
appropriate. If the Exchange initiates delisting procedures, we may decide
to
appeal the ruling, and depending on the outcome of the appeal or otherwise,
we
will pursue having our common stock quoted on the OTC Bulletin
Board.
We
have
notified the Exchange that we will submit our Compliance Plan no later than
May
21, 2007 in accordance with the requirements of its notification.
A
copy of
the press release announcing the notification by the Exchange is attached as
Exhibit 99.1 to this report.
SECTION
9 - FINANCIAL STATEMENTS AND EXHIBITS
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Item
9.01
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Financial
Statements and Exhibits
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(a)
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Financial
Statements of Business
Acquired
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None.
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(b)
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Pro
Forma Financial
Information
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None.
See
Exhibit
Index.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this amended report to be signed on its behalf by the undersigned
thereunto duly authorized.
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Date:
April 24, 2007
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LAPOLLA
INDUSTRIES, INC.
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By: /s/
Michael T. Adams, CGO
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Michael
T. Adams
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Chief
Governance Officer
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INDEX
OF EXHIBITS
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Exhibit
Number
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Description
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Press
Release issued by LaPolla Industries, Inc. on April 24,
2007.
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5
