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 1, 2009
ROYALE ENERGY, INC.
(Exact name of registrant as specified in its charter)
California | | 0-22750 | | 33-02224120 |
(State or other jurisdiction of incorporation or organization) | | (Commission File Number) | | (IRS Employer Identification No.) |
7676 Hazard Center Drive, Suite 1500
San Diego, California 92108
(Address of principal executive office)
Issuer's telephone number: (619) 881-2800
Section 3 | Securities and Trading Markets |
Item 3.01 | Notice of Failure to Satisfy a Continued Listing Rule or Standard |
On April 1, 2008, Nasdaq notified Royale Energy, Inc., by letter that Royale is not currently in compliance with the requirement that companies listed on the Nasdaq Global Market are required by Marketplace Rule 4450(a)(3) to maintain a minimum of $10 million in stockholders’ equity for continued listing. Royale’s Form 10-K for the year ended December 31, 2008, reported stockholders’ equity at December 31, 2008, of $7,394,467.
Under Nasdaq rules, Royale has 15 calendar days from the date of the notification to submit a plan to regain compliance or, in the alternative, to seek listing on the Nasdaq Capital Market. Royale is preparing to submit its plan to regain compliance in accordance with Nasdaq rules.
Attached is a press release describing the Nasdaq notice and Royale’s response.
Section 9 | Financial Statements and Exhibits |
Item 9.01 Financial Statements and Exhibits
Exhibit 99.1 Press Release
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 hereunto duly authorized.
| ROYALE ENERGY, INC. |
| |
Date: April 7, 2009 | /s/ Stephen M. Hosmer |
| Stephen M. Hosmer, Co-President, Co-Chief Executive Officer and Chief Financial Officer |
