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Subsequent Event
12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
Subsequent Event

15. Subsequent Events

On January 26, 2016, the Company was notified that the NASDAQ Listing Qualifications Panel (the “Panel”) had granted the Company’s request to remain listed on The NASDAQ Capital Market, subject to certain conditions. The Panel determined the Company’s common stock would remain listed subject to the Company becoming current in its periodic filings with the Securities and Exchange Commission by March 30, 2016, and holding its annual meeting of stockholders on or before May 12, 2016. The Company filed its delinquent Quarterly Reports on Form 10-Q on March 29, 2016. If the Company does not maintain compliance with the remainder of The NASDAQ Capital Market’s continued listing requirements on an ongoing basis and timely comply with the conditions of the Panel’s decision, its common stock may be immediately delisted from The NASDAQ Capital Market. Any such delisting could have a material adverse effect on the price of the Company’s common stock, the liquidity of its stock, the Company’s business and its ability to raise capital.

On January 27, 2016, the Company commenced the implementation of a worldwide restructuring plan designed to refocus the Company’s resources on its core business segments, including physical access and transponders, and to consolidate its operations in several worldwide locations. The restructuring plan includes a reduction of approximately 25% of the Company’s non-manufacturing employee base, reallocates overhead roles into direct business activities and eliminates certain management and executive roles. In connection with the restructuring, the Company estimates that it will incur aggregate cash charges of approximately $1.6 million to $2.0 million, consisting of approximately $1.5 million to $1.75 million related to severance payments to employees and approximately $100,000 to $250,000 in lease termination fees. The majority of the charges are expected to be paid out during the first quarter of 2016.