SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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):
November 17, 2004
STORAGE COMPUTER CORPORATION
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(Exact Name of Registrant as specified in its charter)
DELAWARE 1-13616 02-045093
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
11 Riverside Street, Nashua, NH 03062-1373
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(Address of Principal Executive Offices) (Zip Code)
(603) 880-3005
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Registrant's telephone number, including area code:
Not Applicable
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(Registrant's Name or Former Address, if Change Since Last Report)
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Item 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING
OR STANDARD; TRANSFER OF LISTING.
The Company received notification from the American Stock Exchange ("AMEX) on
April 29, 2004 that it was not in compliance with certain listing standards
relating to stockholders' equity and net losses. In June 2003 the Company
submitted a plan to AMEX setting forth a plan for compliance with the AMEX
continuing listing standards. On July 28, 2003, AMEX notified the Company that
it had accepted the proposed plan and granted an extension until October 31,
2004 to regain compliance. During this time the Company's stock continued to
trade on AMEX and the Company was subject to periodic review of its progress
consistent with its plan. On November 10, 2004 the AMEX notified the Company
that it was subject to delisting from the Exchange, as it was unable to regain
compliance with the continuing listing standards by October 31, 2004. The
Company is not in compliance with the following listing standards. (a) The
Company has sustained losses in its five most recent fiscal years and has not
maintained stockholders equity of at least $ 6 million. (b) The Company has
sustained losses in three of its four most recent fiscal years and has not
maintained shareholders equity of at least $4 million. (c) The Company has
sustained losses in two of its most recent fiscal years and has not maintained
stockholders equity of at least $ 2 million. The Company had stockholders equity
of $777,095 at June 30, 2004. The Company will appeal this staff determination
and request a hearing before a committee of the Exchange. The stock will
continue to trade on the AMEX during the appeal period. There can be no
assurance the Company's request for continued listing will be granted.
Item7.01 REGULATION FD DISCLOSURES
On November 16, 2004 the company issued a press release announcing that it had
received notification from the American Stock Exchange (AMEX) that it subject to
being delisted from the Exchange.
Exhibit
Number Description
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99.1 Press Release dated November 16, 2004, titled
"STORAGE COMPUTER NOTIFIED BY AMEX"
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.
Date: November 17, 2004 STORAGE COMPUTER CORPORATION
By: /s/ Michael J. O'Donnell
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Name: Michael J. O'Donnell
Title: Chief Financial Officer