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: January 21, 2005
Commission File Number 0-16305
INTERNATIONAL ELECTRONICS, INC.
(Exact name of small business issuer as specified in its charter)
MASSACHUSETTS | 04-2654231 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. employer identification no.) |
427 Turnpike Street, Canton, Massachusetts 02021
(Address of principal executive offices, including zip code)
(781) 821-5566
(Issuer’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 (see General Instruction A.2. below):
¨ | 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
On January 18, 2005, International Electronics, Inc. (IEI) received notice from NASDAQ that IEI does not comply with NASDAQ marketplace rule 4310(c)(2)(B) which requires IEI to have a minimum of $2,500,000 in stockholders equity or $35,000,000 market value of listed securities or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years. Although IEI experienced an operating loss in the first quarter of its fiscal year which caused IEI to have less than the required stockholders equity at the end of that quarter, IEI expects to return to profitability during the balance of fiscal 2005. As of this filing, IEI intends to carry on its business in the ordinary course so that by August 31, 2005, the Company will have sufficient stockholders equity to maintain its listing with NASDAQ. Otherwise IEI will consider, as appropriate, other actions and responses to its noncompliance.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: January 21, 2005 | INTERNATIONAL ELECTRONICS, INC. | |||
By: | /s/ John Waldstein | |||
John Waldstein | ||||
President, Chief Executive Officer, | ||||
Chief Financial Officer and Treasurer |