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):
October
7, 2008
AKEENA
SOLAR, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-33695
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90-0181035
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(State
or other jurisdiction of incorporation)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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16005
Los Gatos Boulevard
Los
Gatos, California 94032
(Address
of principal executive offices)
Registrant’s
telephone number, including area code:
(408)
402-9400
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))
(a)
Notice from Nasdaq regarding need for additional Audit Committee
member
As
previously disclosed in a Form 8-K filed on October 1, 2008, George Lauro
resigned as a director of Akeena Solar, Inc. (the “Company”) effective October
1, 2008. This leaves two independent directors on the Board of Directors and
on
the Audit Committee of the Company.
On
October 7, 2008, Nasdaq provided notice to the Company that it currently does
not satisfy Marketplace Rule 4350 regarding Audit Committee composition,
for continued listing on the Nasdaq Stock Market. That Rule requires listed
companies to maintain an Audit Committee composed of at least three members
who
each satisfy the independence requirements. The notice from Nasdaq confirmed
that, in accordance with Rule 4350(d)(4), the Company has a grace period in
which to regain compliance, which grace period extends until the earlier of
Akeena’s next Annual Stockholders’ meeting or October 1, 2009 (or until March
30, 2009 in the event the next Annual Stockholders’ meeting is held before March
30, 2009). In order to regain compliance, the Company must provide documentation
to Nasdaq evidencing the appointment of an additional independent director
to
its Board of Directors and Audit Committee. The Company does not anticipate
difficulty in regaining compliance within the grace period, and has begun the
process of identifying a replacement independent director to join its Board
and
Audit Committee.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
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Exhibit
Number
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Description of Exhibit
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99.1
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Press
Release regarding Notice of Non-Compliance with NASDAQ Marketplace
Rule
4350, issued by the Registrant on October 9, 2008 (furnished
herewith).
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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:
October 9, 2008
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AKEENA
SOLAR, INC. |
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By: |
/s/ Gary
R.
Effren |
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Gary
R. Effren,
Chief
Financial Officer
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