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Form 8-K LIFEWAY FOODS INC For: May 14

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May 20, 2015 4:24 PM EDT
 
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):   May 14, 2015
 
 
LIFEWAY FOODS, INC.
(Exact name of registrant as specified in its charter)
 
         
ILLINOIS
  
000-17363
  
36-3442829
(State or other jurisdiction of
incorporation)
  
(Commission File Number)
  
(I.R.S. Employer Identification No.)
         
         
6431 West Oakton St. Morton Grove, IL
  
60053
(Address of principal executive offices)
  
(Zip code)
 
 
Registrant’s telephone number, including area code: (847) 967-1010

 
N/A
(Former name or former address, if changed since last report)
 

 
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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
Item 3.01   Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 14, 2015, Lifeway Foods, Inc. (the “Company”) received a letter (the “Nasdaq Notice”) from The NASDAQ Stock Market LLC (“Nasdaq”) notifying the Company that because it had not yet filed with the SEC its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Form 10-K”) and its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015 (the “Form 10-Q”), the Company is not in compliance with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1).

The Nasdaq Notice states that the Company is required to submit a plan to regain compliance with Nasdaq’s filing requirements for continued listing by June 5, 2015. Upon acceptance of the Company’s compliance plan, Nasdaq is permitted to grant an extension of up to 180 days from the Form 10-K’s filing due date for the Company to regain compliance with Nasdaq’s filing requirements for continued listing.

The Company is continuing to work diligently on its plan to regain compliance with Nasdaq Rule 5250(c)(1) and to file Form 10-K and Form 10-Q.

The Company issued a press release on May 20, 2015 disclosing the Company’s receipt of the Nasdaq Notice. A copy of such press release is attached as Exhibit 99.1 hereto.


Item 9.01    Financial Statements and Exhibits.

(d)   Exhibits:

 
Exhibit No.
Description
 
 
99.1 
Press Release issued by the Company on May 20, 2015.
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- 2 -
 
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.
 
 

 
 
LIFEWAY FOODS, INC.
 
 
  
Dated:    May 20, 2015
By:  
/s/ Edward Smolyansky  
  
   
Edward Smolyansky 
  
   
Chief Financial and Accounting Officer, Secretary and Treasurer
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- 3 -
 
 
 
EXHIBIT INDEX
 
 
 

Exhibit No. 
Description
 
99.1 
Press Release issued by the Company on May 20, 2015.
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
- 4 -
 
EXHIBIT 99.1
 

 
Lifeway Foods Announces Receipt of Nasdaq Compliance Letter

Morton Grove, IL — May 20, 2015 — Lifeway Foods, Inc., (Nasdaq: LWAY), a leading supplier of cultured dairy products known as kefir and organic kefir, today announced that it has received a letter, dated May 14, 2015, from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) notifying the Company of its noncompliance with the periodic filing requirements for continued listing set forth in NASDAQ Listing Rule 5250(c)(1) because it had not yet filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Form 10-K”) or its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2015 (the “Form 10-Q”).

The Nasdaq Notice states that the Company is required to submit a plan to regain compliance with Nasdaq’s filing requirements for continued listing by June 5, 2015. Upon acceptance of the Company’s compliance plan, Nasdaq is permitted to grant an extension of up to 180 days from the Form 10-K’s filing due date for the Company to regain compliance with Nasdaq’s filing requirements for continued listing.

The Company is continuing to work diligently on its plan to regain compliance with Nasdaq Rule 5250(c)(1) and to file Form 10-K and Form 10-Q.

About Lifeway Foods
Lifeway Foods (LWAY), recently named one of Forbes Best Small Companies, is America’s leading supplier of the probiotic fermented beverage known as kefir. In addition to its line of drinkable kefir, the company also produces frozen kefir, specialty cheeses and a ProBugs line for kids. Lifeway’s tart and tangy cultured dairy products are now sold across the United States, Canada, Latin America and the United Kingdom. Learn how Lifeway is good for more than just you at www.lifewaykefir.com.

Find Lifeway Foods, Inc. on Facebook: www.facebook.com/lifewaykefir
Follow Lifeway Foods on Twitter: http://twitter.com/lifeway_kefir
YouTube: http://www.youtube.com/user/lifewaykefir


Contact:
   
Lifeway Foods, Inc.
  
Phone: 877.281.3874
  
 
  
Investor Relations:
  
   
ICR
  
   
Katie Turner
  
John Mills
646.277.1228
  

 

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