GEE Group Inc. - FORM 8-K - October 10, 2014

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EX-99.1 - PRESS RELEASE - GEE Group Inc.d803711dex991.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): October 3, 2014

 

 

GENERAL EMPLOYMENT ENTERPRISES, INC

(Exact name of registrant as specified in its charter)

 

 

 

Illinois   1-05707   36-6097429

(State or other jurisdiction of

incorporation or organization)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification Number)

 

184 Shuman Blvd., Ste. 420, Naperville, Illinois   60563
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (630) 954-0400

 

 

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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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

General Employment Enterprises, Inc. (NYSE MKT: JOB) (the “Company” or “General Employment”) received a letter (the “Letter”) from NYSE MKT, LLC (the “NYSE MKT”) dated October 3, 2014, which stated, among other things, that the Company is currently delinquent in paying certain fees with NYSE MKT. The Company has since made all payments through the May 29th 2014 invoices and expects to have all payments for invoices through September 29th 2014 paid no later than November 17th. The Letter further indicates that the Company is noncompliant with Section 1003(f)(iv) of the Company Guide and has become subject to the procedures and requirements of Section 1009.

The Company was previously granted an extension of time until December 6, 2014 to regain compliance as it relates to, among other things, that the Company has equity less than $4 million and has sustained losses from continuing operations and/or net losses in three of its four most recent fiscal years and, in the opinion of NYSE MKT, it is questionable as to whether the Company will be able to continue operations and/or meet its obligations as they mature based on its current overall financial condition, pursuant to Sections 1003(a)(ii) and 1003(a)(iv) of the NYSE MKT’s Company Guide, respectively. The Company continues to make progress on the plan submitted to the NYSE MKT and expects to be compliant on or before the December 6, 2014 requirement.

A press release detailing the foregoing is furnished herewith as Exhibit 99.1

Item 9.01 Financial Statements and Exhibits.

 

Exhibit
No.

   

Description

99.1    Press release issued by General Employment Enterprises, Inc. dated October 10, 2014.

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, thereunto duly authorized.

 

    GENERAL EMPLOYMENT ENTERPRISES, INC.
    (Registrant)
Date: October 10, 2014     By:  

/s/ Francis J. Elenio

    Francis J. Elenio
    Chief Financial Officer

GEE Group Inc. Reports