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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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) April 4, 2005
Superconductor Technologies Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21074 77-0158076
(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)
460 Ward Drive, Santa Barbara, CA 93111
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (805) 690-4500
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))
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ITEM 3.01. NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE
OR STANDARD; TRANSFER OF LISTING
Superconductor Technologies Inc. (the "Company") received a notice from the
Listing Qualifications division of the Nasdaq Stock Market indicating that its
common stock is subject to potential delisting from the Nasdaq NMS because its
common stock closed below $1.00 per share for a period of 30 consecutive
business days, and therefore did not meet the requirement set forth in Nasdaq
Marketplace Rule 4450(a)(5). The notice further provides that in accordance with
Nasdaq Marketplace Rule 4450(e)(2), the Company will be provided 180 calendar
days, or until October 3, 2005 to regain compliance. If by October 3, 2005 the
Company cannot demonstrate compliance with the Rule and if the Company meets the
Nasdaq SmallCap Market initial listing criteria as set forth in Marketplace Rule
4310(c), except for the bid price requirement, the Company can request a
transfer of its securities to the Nasdaq SmallCap Market. At the time of such
transfer, Nasdaq may provide the Company an additional 180 calendar day
compliance period which is so provided to SmallCap issuers. If the Company is
not eligible for an additional compliance period, the Nasdaq staff will provide
written notification that its securities will be delisted. At that time, the
Company may appeal Nasdaq's determination to delist its securities to a Listings
Qualifications Panel. On April 6, 2005, the Company issued a press release
regarding the notice which is attached hereto as an exhibit.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99.1 Press Release dated April 6, 2005.
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SIGNATURES
Pursuant to the requirement 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.
Superconductor Technologies Inc.
Date: April 6, 2005 By: /s/ Martin S. McDermut
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Martin S. McDermut,
Senior Vice President,
Chief Financial Officer and Secretary
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