0001493152-23-019261.txt : 20230526 0001493152-23-019261.hdr.sgml : 20230526 20230526160530 ACCESSION NUMBER: 0001493152-23-019261 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20230522 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230526 DATE AS OF CHANGE: 20230526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOFUTTI BRANDS INC CENTRAL INDEX KEY: 0000730349 STANDARD INDUSTRIAL CLASSIFICATION: ICE CREAM & FROZEN DESSERTS [2024] IRS NUMBER: 133094658 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09009 FILM NUMBER: 23968788 BUSINESS ADDRESS: STREET 1: 50 JACKSON DR STREET 2: PO BOX 786 CITY: CRANFORD STATE: NJ ZIP: 07016 BUSINESS PHONE: 9082722400 MAIL ADDRESS: STREET 1: 50 JACKSON DRIVE STREET 2: PO BOX 786 CITY: CRANFORD STATE: NJ ZIP: 07016 FORMER COMPANY: FORMER CONFORMED NAME: TOFU TIME INC DATE OF NAME CHANGE: 19860619 8-K 1 form8-k.htm
0000730349 false 0000730349 2023-05-22 2023-05-22 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

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

 

May 22, 2023

Date of Report

(Date of earliest event reported)

 

TOFUTTI BRANDS INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-09009   13-3094658

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

  50 Jackson Drive Cranford, New Jersey 07016  
  (Address of principal executive offices and zip code)  
     
  (908)272-2400  
  (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 obligation 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(g) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.01 per share   TOFB   None

 

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

 

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. ☐

 

 

 

  

 

 

ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD.

 

On May 22, 2023 the Registrant received a notice from the OTC Markets Group indicating that the Registrant no longer meets the Standards for Continued Qualification for the OTCQX U.S. tier as per the OTCX Rules for U.S. Companies (Version 8.6) section 3.2.b.2. Specifically, the Registrant’s market capitalization has stayed below $5 million for the past 30 consecutive calendar days. The Registrant has a cure period of 180 calendar days, expiring November 20, 2023, to regain compliance. In order to regain compliance, the Registrant’s market capitalization must stay at or above $5 million for 10 consecutive trading days within the cure period. The Registrant may also seek a transfer to the OTCQB market.

 

ITEM 8.01 OTHER EVENTS.

 

On May 26, 2023, the Registrant issued a press release announcing the receipt of the OTC Markets Group notice described in Item 3.01 of this Current Report on Form 8-K. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

 

(c) Exhibits

 

Exhibit 99.1 Press Release dated May 26, 2023.
104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

  

 

 

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 thereunto duly authorized.

 

Date: May 26, 2023 TOFUTTI BRANDS INC.
  (Registrant)
     
  By:  /s/ Steven Kass
    Steven Kass
    Chief Executive and Financial Officer

 

  
EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

May 26, 2023

 

Tofutti Press Release

 

Company Contact: Steve Kass
  Chief Financial Officer
  (908) 272-2400
  (908) 272-9492 (Fax)

 

Tofutti Brands Inc. Announces Receipt of Notification From the OTC Markets Group That It No Longer Meets the Standards for Continued Qualification

 

Cranford, New Jersey — May 26, 2023 — TOFUTTI BRANDS INC. (OTCQX: TOFB) (“Tofutti” or the “Company”) today announced that on May 22, 2023 it received a notice from the OTC Markets Group indicating that the Company no longer meets the Standards for Continued Qualification for the OTCQX U.S. tier as per the OTCX Rules for U.S. Companies (Version 8.6) section 3.2.b.2. Specifically, the Company’s market capitalization has stayed below $5 million for the past 30 consecutive calendar days. The Company has a cure period of 180 calendar days, expiring November 20, 2023, to regain compliance. In order to regain compliance, the Company’s market capitalization must stay at or above $5 million for 10 consecutive trading days within the cure period. The Company may also seek a transfer to the OTCQB market.

 

About Tofutti Brands Inc.

 

Founded in 1981, Tofutti Brands Inc. develops and distributes a complete line of plant-based products. The Company sells more than twenty-five (25) dairy-free foods including cheese products and frozen desserts. Tofutti Brands Inc. is a proven innovator in the food industry and has developed a full line of delicious and healthy dairy-free foods. Available throughout the United States and in more than fifteen (15) countries, Tofutti Brands answers the call of millions of people who are allergic or intolerant to dairy or wish to maintain a kosher or vegan diet. Tofutti’s product line includes plant-based cheese products and frozen dessert products, visit www.tofutti.com.

 

  

 

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