Form 8-K FIELDPOINT PETROLEUM For: Jul 27
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 27, 2016
FIELDPOINT PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
Colorado | 001-32624 | 84-0811034 |
(State or other jurisdiction of incorporation or organization) | (Commission file number) | (IRS Employer Identification No.) |
609 Castle Road # 335, Austin TX 78746
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (512) 250-8692
_________________________________________
(Former name or former address, if changed since last report)
___ | Written communications pursuant to Rule 425 under the Securities Act |
___ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
___ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
___ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
ITEM 3.01
ACCEPTANCE OF PLAN TO SATISFY A CONTINUED LISTING RULE OR STANDARD
ITEM 7.01
REGULATION FD DISCLOSURE
On July 27 2016, FieldPoint Petroleum Corporation (NYSE/MKT: FPP) (the Company) issued a press release announcing that its plan to regain compliance with the NYSE MKT continued listing standards has been accepted, and that its listing on the exchange will continue pursuant to an extension.
The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01. The Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.
ITEM 9.01: FINANCIAL STATEMENTS AND EXHIBITS
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99.1 | Press Release dated July 27, 2016. |
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.
| FIELDPOINT PETROLEUM CORPORATION |
Date: July 27 , 2016 | By__/s/ Phillip Roberson_________________ Phillip Roberson, President and CFO |
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FIELDPOINT PETROLEUM CONTINUED LISTING PLAN ACCEPTED BY NYSE MKT
AUSTIN, TX July 27, 2016 FieldPoint Petroleum Corporation (NYSE/MKT: FPP) today announced that the Companys plan to regain compliance with the NYSE MKT continued listing standards has been accepted by NYSE Regulation, and that its listing on the exchange will continue pursuant to an extension described below.
As previously disclosed, on May 11, 2016, the Company received notification from the NYSE MKT that it was noncompliant with its continued listing standards; specifically, Section 1003(a) of the Company Guide related to financial impairment. The Companys stockholders equity was below the $2.0 million threshold required for listed companies that have reported losses from continuing operations in two of its three most recently completed fiscal years. The Company had 30 days to submit a plan to regain compliance; whereupon NYSE Regulation reviewed the plan and determined to accept it, as supplemented, and granted a plan period through November 13, 2017, the targeted completion date. NYSE Regulation staff will review the Company periodically for compliance with the initiatives outlined in the plan. If the Company is not in compliance with the continued listing standards by the targeted completion date of November 13, 2017, or if the Company does not make progress consistent with the plan during the plan period, NYSE Regulation staff will initiate delisting proceeding as appropriate.
Phillip Roberson, President and CFO, stated, I truly appreciate the direction and support that we have received from the NYSE Regulation staff in dealing with this issue. It is our objective to meet the continued listing requirements long before November, 2017, and I am confident that with the continued support of our shareholders we will be able to do so.
FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming. For more information, please visit www.fppcorp.com.
This press release may contain projection and other forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such projections or statement reflect the companys current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ from those projected, such as decreases in oil and natural gas prices and unexpected decreases in oil and natural gas production is included in the companys periodic reports filed with the Securities and Exchange Commission (at www.sec.gov)
Contact: Phillip Roberson, President/CFO (512) 579-3563 or [email protected]
Or Roger Bryant, Executive Chairman (214) 215-9130
Corporate Headquarters: 609 Castle Ridge Rd, Ste 335, Austin, TX 78746
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