FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 20, 2003
MPM Technologies, Inc.
(Exact name of registrant as specified in its charter)
Washington 0-14910 81-0436060
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
199 Pomeroy Road, Parsippany, NJ 07054
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (973) 428-5009
339 Jefferson Road, Parsippany, NJ 07054
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(Former name or address, if changed since last report)
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS
ITEM 5. OTHER EVENTS
The Company announced non-compliance with Nasdaq Qualification Exception.
ITEM 6. RESIGNATION OF A REGISTRANT'S DIRECTOR
ITEM 7. FINANCIAL STATEMENTS. PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a). Financial Statements of business acquired
(b). Pro forms financial information
(c). Exhibits
News Release
SIGNATURE(S)
Pursuant to the requirements of the Securities Exchange Act of 1934,
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MPM Technologies Inc.
February 20, 2003 /s/ Robert D. Little
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(Date) Robert D. Little
Secretary
NEWS RELEASE MPM TECHNOLOGIES INC.
MPM TECHNOLOGIES, INC ANNOUNCED NON-COMPLIANCE
WITH NASDAQ QUALIFICATIONS EXCEPTION
Parsippany, NJ - February 19, 2003 - MPM Technologies, Inc. announced today that
the company had been delisted from The Nasdaq SmallCap Market and will begin
trading on the OTC Bulletin Board effective immediately. The ticker symbol will
remain MPML.
By decision dated August 21, 2002, the Nasdaq Listing Qualifications Panel
granted MPM continued listing on The Nasdaq SmallCap Market pursuant to an
exception. Specifically, on or before February 6, 2003, the Company was required
to evidence a closing bid price of at least $1.00 per share and, immediately
thereafter, a closing bid price of at least $1.00 per share for a minimum of ten
consecutive trading days. The Panel determined that the Company failed to fully
satisfy that term of the exception. The Company was also required to evidence
compliance with all other requirements for continued listing on The Nasdaq
SmallCap Market. As of September 30, 2002, the Company no longer satisfied the
$2,500,000 shareholders' equity/market value of listed securities/net income
requirement. Accordingly, the Panel determined to delist the Company's
securities from The Nasdaq Stock Market effective with the open of business on
Tuesday, February 18, 2003. The Company's securities were immediately eligible
for quotation on the OTC Bulletin Board effective with the open of business on
February 18, 2003.
MPM Technologies, Inc., is a holding company with the following
subsidiaries: Huntington Environmental Systems, Inc., and AirPol, Inc., both of
which design, build, install and service industrial air pollution control
systems; and Nupower, Inc. which is engaged in the development and marketing of
Skygas, a patented waste-to-fuel technology. Further information about MPM
Technologies, Inc. may be obtained on the Internet at http://www.mpmtech.com.
Contact: Robert D. Little, MPM Technologies, Inc
Tel: (509) 326-3443
Fax: (509) 326-3228
email: info@mpmtech.com
Statement Under the Private Securities Litigation Reform Act.
With the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risk
and uncertainties that may individually or mutually impact the matters herein
described, including but not limited to, product acceptance, economic,
competitive, governmental, results of litigation, technological and/or other
factors which are outside the control of the company.