Hanger, Austin, Texas, announced that it continues to work to file its Form 10-K for the year ended December 31, 2013, as soon as possible. Form 10-K is an annual report that publicly traded companies are required to file with the U.S. Securities and Exchange Commission (SEC), which provides a comprehensive overview of a company’s business and financial condition and includes audited financial statements, according to the SEC website. Hanger had previously disclosed, in another form it filed with the SEC, that it is unable to timely file its Annual Report on Form 10-K because of the additional time required to complete the testing and assessment of internal controls, including the testing and assessment of the updated controls and procedures Hanger implemented in response to the material weakness in the company’s internal controls over financial reporting reported in the Form 10-K for the year ended December 31, 2012.
Hanger also announced that it has received a notice from the New York Stock Exchange (NYSE) that it is not in compliance with the NYSE’s continued listing requirements under the timely filing criteria outlined in Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2013. The NYSE informed Hanger that under NYSE rules, Hanger will have six months, until September 17, 2014, to file its Form 10-K with the SEC. Hanger said it can, and intends to, regain compliance with the NYSE listing standards prior to such date. If Hanger fails to file the Form 10-K prior to September 17, then the NYSE may grant, at its discretion, a further extension of up to six additional months, depending on the specific circumstances. The letter from the NYSE also notes that the NYSE may commence delisting proceedings at any time if the circumstances warrant.
Hanger said its common stock continues to be listed on the NYSE under the symbol “HGR,” but beginning on March 25, 2014, it will be assigned an “LF” indicator by the NYSE to signify the company’s late filing status.