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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): February 10, 1998
MOLTEN METAL TECHNOLOGY, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-21042 52-1659959
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
400-2 TOTTEN POND ROAD, WALTHAM, MASSACHUSETTS 02154
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Address of principal executive offices
Registrant's telephone number, including area code: (781) 487-9700
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ITEM 5. OTHER EVENTS
Delisting Of Securities From The Nasdaq Stock Market
In a letter dated February 10 (the "Letter"), The Nasdaq Stock Market, Inc.
("Nasdaq") advised Molten Metal Technology, Inc. (the "Company") that a Nasdaq
Listings Qualification Panel (the "Panel") had determined to delist the
Company's securities from The Nasdaq National Stock Market, effective with the
close of business on February 10, 1998. The Letter states that the Company's
Form 10-Q for the period ended September 30, 1997 reported total assets of
$223,308,927 and net tangible assets of $(43,099,213), and that the closing bid
price for the company's shares on February 6, 1998 was $0.40625 per share. The
Nasdaq minimum net tangible assets and minimum bid price requirements for
continuing listing on the Nasdaq National Market are $4,000,000 and $1.00 per
share, respectively.
At a hearing before the Panel on January 23, 1998 and in subsequent
correspondence, the Company provided information intended to demonstrate that
the Company was developing a plan to come into compliance with the continued
listing requirements of the Nasdaq National Market. In the Letter, Nasdaq states
that the Panel was of the opinion that the Company had not provided a definitive
plan to regain compliance with the continued listing requirements within a
reasonable period of time.
The Nasdaq Listing and Hearing Review Council (the "Listing Council") may,
on its own motion, decide to review any Panel decision within 45 days after the
issuance of the decision. Furthermore, the Company may also request the Listing
Council to review the decision by filing a written request for review within 15
days from the date of the decision. The Company is currently reviewing Nasdaq's
decision and evaluating what action, if any, it should take in response to this
decision.
SIGNATURES
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.
MOLTEN METAL TECHNOLOGY, INC.
Dated: February 11, 1998 By: /s/ F. Gordon Bitter
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F. Gordon Bitter
Chief Executive Officer and
Chief Financial Officer
