# EDGAR Filing Document

**Accession Number:** 0000924168
**File Stem:** 0000924168-23-000014
**Filing Date:** 2023-2
**Character Count:** 9070
**Document Hash:** afab840819226b169bba648725509594
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000924168-23-000014.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0000924168-23-000014

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230221

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ENERGY FOCUS, INC/DE
- **CENTRAL INDEX KEY:** 0000924168
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC LIGHTING & WIRING EQUIPMENT [3640]
- **IRS NUMBER:** 943021850
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36583
- **FILM NUMBER:** 23667805

**BUSINESS ADDRESS:**
- **STREET 1:** 32000 AURORA ROAD
- **STREET 2:** SUITE B
- **CITY:** SOLON
- **STATE:** OH
- **ZIP:** 44139
- **BUSINESS PHONE:** 4407151300

**MAIL ADDRESS:**
- **STREET 1:** 32000 AURORA ROAD
- **STREET 2:** SUITE B
- **CITY:** SOLON
- **STATE:** OH
- **ZIP:** 44139

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIBERSTARS INC /CA/
- **DATE OF NAME CHANGE:** 19940527

?xml version="1.0" ? efoi-20230221

**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): February 21, 2023

**ENERGY FOCUS, INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-36583** | **94-3021850** |
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |

---

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| | | | |
|:---|:---|:---|:---|
| **32000 Aurora Road Suite B** | **Solon,** | **OH** | **44139** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(440) 715-1300**

(Registrant's telephone number, including area code)

**Not Applicable**

(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 obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| **Common Stock, par value $0.0001 per share** | **EFOI** | **The Nasdaq Stock Market LLC** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company &nbsp;&nbsp;&nbsp;&nbsp;☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**

As previously disclosed, on August 23, 2022, Energy Focus, Inc. (the "Company") received a written notification from the Listing Qualifications staff of The Nasdaq Stock Market ("Nasdaq") that the Company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement"), because the closing bid price for the Company's common stock was below the minimum $1.00 per share for 30 consecutive business days.

On February 21, 2023, the Company received written notification (the "Notification") from Nasdaq stating that the Company had not regained compliance with the Rule and was ineligible to obtain a second 180 calendar day period to regain compliance because it did not meet the Nasdaq Capital Market's minimum $5,000,000 Stockholders' Equity initial listing requirement as of September 30, 2022. Pursuant to the Notification, the Company's common stock is subject to delisting from Nasdaq pending the Company's opportunity to request a hearing before the Nasdaq Hearings Panel (the "Panel").

The Company intends to diligently pursue an appeal of the Notification before the Panel and regain compliance with the Rule. Under Nasdaq rules, the delisting of the Company's common stock will be stayed during the pendency of the appeal and during such time, the Company's common stock will continue to be listed on Nasdaq. If the Company did not request a hearing before the Panel by February 28, 2023, the Company's common stock would be scheduled for delisting at the opening of business on March 2, 2023. On February 24, 2023, the Company submitted its request for an appeal before the Panel.

There can be no assurance that such appeal will be successful or that the Company will be able to regain compliance with the Rule or maintain compliance with other Nasdaq listing requirements. If the Company's appeal is denied or if it fails to regain compliance with Nasdaq's continued listing standards during any period granted by the Panel, the Company's common stock will be subject to delisting from Nasdaq.

**Forward-Looking Statements**

Forward-looking statements in this report are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "feels," "seeks," "forecasts," "projects," "intends," "plans," "may," "will," "should," "could" or "would" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies, capital expenditures, and the industry in which we operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Although we base these forward-looking statements on assumptions that we believe are reasonable when made in light of the information currently available to us, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and industry developments may differ materially from statements made in or suggested by the forward-looking statements contained in this release. We believe that important factors that could cause our actual results to differ materially from forward-looking statements include, but are not limited to: whether we will meet the stockholders' equity requirement, market value of listed securities or the bid price requirement during any compliance period or otherwise in the future, or otherwise will meet Nasdaq compliance standards; whether Nasdaq will grant us any relief from delisting as necessary or whether we can agree to or ultimately meet applicable Nasdaq requirements for any such relief; our need for and ability to obtain additional financing in the near term, on acceptable terms or at all, to continue our operations; our ability to refinance or extend maturing debt on acceptable terms or at all; our ability to continue as a going concern for a reasonable period of time. For additional factors that could cause our actual results to differ materially from the forward-looking statements, please refer to our most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission.

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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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| | | |
|:---|:---|:---|
| Dated: February 24, 2023 |  |  |
|  | **ENERGY FOCUS, INC.** | **ENERGY FOCUS, INC.** |
|  | By: | /s/ Lesley A. Matt |
|  | Name: | Lesley A. Matt |
|  | Title: | Chief Executive Officer |

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