Current Report Filing (8-k)
September 15 2017 - 5:03AM
Edgar (US Regulatory)
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):
September 12, 2017
FALCONSTOR SOFTWARE, INC
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(Exact name of registrant as specified in its charter)
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Delaware
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00
0-23970
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77-0216135
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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2 Huntington Quadrangle, Melville, New York
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11747
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s Telephone Number, Including
Area Code:
631-777-5188
N/A
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(Former Name or Former Address, If Changed Since Last Report)
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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))
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. ☐
As
previously disclosed, FalconStor Software, Inc. (the “Company”) has incurred significant operating losses in the
previous eight years and negative cash flow from operations in five of the previous eight years, which has raised substantial
doubt regarding the Company’s ability to continue as a going concern. The Company’s Form 10-Q for the six months
ended June 30, 2017 (the “Form 10-Q”), stated that the failure to generate sufficient revenue, billings, control
or further reduce expenditures and/or the inability to obtain financing will result in an inability of the Company to
continue as a going concern and to the extent that the Company continues to incur losses it will need to seek financing.
Subsequent to June 30, 2017, the Company has continued to incur losses and accordingly the Company requires additional
financing in the very near term to meet its operating cash flow needs. The Company is actively seeking short term financing
as well as exploring all strategic options. As disclosed in the Form 10-Q, there can be no assurance that the Company will be
able to obtain financing or that such financing will be on favorable terms and any such financing would be dilutive to the
Company’s stockholders. If the Company cannot obtain additional financing in the near term, the Company will no longer
be able to continue as a going concern.
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.
Date: September 14, 2017
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FALCONSTOR SOFTWARE, INC.
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By:
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/s/ Patrick McClain
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Name:
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Patrick McClain
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Title:
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Chief Financial Officer
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