Current Report Filing (8-k)
July 22 2016 - 5:01PM
Edgar (US Regulatory)
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 (Date of earliest event
reported):
July 21, 2016
Lucas Energy, Inc.
(Exact name of registrant as specified
in its charter)
Nevada
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001-32508
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20-2660243
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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450 Gears Road, Suite 860, Houston, Texas
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77067
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including
area code (713) 528-1881
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:
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 3.01
NOTICE OF DELISTING
OF FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.
On July 21, 2016, Lucas
Energy, Inc. (the “
Company
”) received notice from the NYSE MKT (the “
Exchange
”) that the
Company is not in compliance with certain of the Exchange’s continued listing standards as set forth in Part 10 of the NYSE
MKT Company Guide (the “
Company Guide
”). Specifically, the Company is not in compliance with Sections 1003(a)(ii)
and (iii) of the Company Guide because the Company did not have stockholders’ equity over $4 million (required if an Exchange
listed company has had losses from continuing operations and/or net losses in three of its last four fiscal years, as the Company
did) or over $6 million (required if an Exchange listed company has had losses from continuing operations and/or net losses in
its five most recent fiscal years, as the Company did), as of March 31, 2016 (the Company reported stockholders’ equity of
only $2.4 million and has reported losses from operations in its five most recent fiscal years).
In order to maintain
its listing on the Exchange, the Exchange has requested that the Company submit a plan of compliance (the “
Plan
”)
by August 21, 2016 addressing how the Company intends to regain compliance with Sections 1003(a)(ii) and (iii) of the Company Guide
by January 21, 2018.
As of the date hereof,
the Company’s management has determined to submit a Plan to the Exchange by the August 21, 2016 deadline. If the
Exchange accepts the Company’s plan, the Company will be able to continue its listing during the plan period and will be
subject to continued periodic review by the Exchange staff. If the Plan is not accepted or is accepted but the Company
does not make progress consistent with the Plan during the plan period, the Company will be subject to delisting procedures as
set forth in the Company Guide. There can be no assurance that the Company will be able to achieve compliance with the Exchange’s
continued listing standards within the required time frame.
ITEM 7.01
REGULATION FD DISCLOSURE.
The Company issued a
press release on July 22, 2016, announcing that it had received notice from the Exchange indicating that it does not satisfy the
continued listing standards of the Exchange. A copy of the press release is furnished herewith as
Exhibit 99.1
and is incorporated
by reference herein.
In accordance with General
Instruction B.2 of Form 8-K, the information presented herein under Item 7.01 and set forth in the attached
Exhibit 99.1
is deemed to be “
furnished
” and shall not be deemed “
filed
” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information
and Exhibit be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act
of 1934, each as amended.
ITEM 9.01
FINANCIAL STATEMENTS AND
EXHIBITS.
Exhibit No.
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Description
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99.1
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Press Release dated July 22, 2016
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Signature
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.
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LUCAS ENERGY, INC.
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By:
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/s/ Anthony C. Schnur
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Name:
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Anthony C. Schnur
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Title:
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Chief Executive Officer
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July 22, 2016
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