<SEC-DOCUMENT>0001140361-20-002176.txt : 20200204
<SEC-HEADER>0001140361-20-002176.hdr.sgml : 20200204
<ACCEPTANCE-DATETIME>20200204091338
ACCESSION NUMBER:		0001140361-20-002176
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200129
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
FILED AS OF DATE:		20200204
DATE AS OF CHANGE:		20200204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			USA TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000896429
		STANDARD INDUSTRIAL CLASSIFICATION:	CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578]
		IRS NUMBER:				232679963
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33365
		FILM NUMBER:		20570818

	BUSINESS ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355
		BUSINESS PHONE:		6109890340

	MAIL ADDRESS:	
		STREET 1:		100 DEERFIELD LANE
		STREET 2:		SUITE 300
		CITY:			MALVERN
		STATE:			PA
		ZIP:			19355

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USA ENTERTAINMENT CENTER INC
		DATE OF NAME CHANGE:	19931029
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<DESCRIPTION>8-K
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        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt;">Washington, D.C. 20549</div>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">FORM 8-K</div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000;">Current Report Pursuant to Section 13 or 15(d) of</div>
        <div style="text-align: center; color: #000000;">The Securities Exchange Act of 1934</div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000;">Date of report (Date of earliest event reported): January 29, 2020</div>
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        <div style="text-align: center; color: #000000;"><font style="font-size: 24pt; font-weight: bold;">USA TECHNOLOGIES, INC</font><font style="font-size: 24pt;">.</font></div>
        <div style="text-align: center; color: #000000;">(Exact name of registrant as specified in its charter)</div>
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                <div style="text-align: center; color: #000000;">Pennsylvania</div>
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                <div style="text-align: center; color: #000000;">001-33365</div>
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                <div style="text-align: center; color: #000000;">232679963</div>
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                <div style="text-align: center; color: #000000;">(State or other jurisdiction of incorporation or organization)</div>
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                <div style="text-align: center; color: #000000;">(Commission File Number)</div>
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                <div style="text-align: center; color: #000000;">(I.R.S. Employer Identification No.)</div>
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        <div style="text-align: center; color: #000000;">100 Deerfield Lane, Suite 300</div>
        <div style="text-align: center; color: #000000;">Malvern, Pennsylvania 19355</div>
        <div style="text-align: center; color: #000000;">(Address of principal executive offices and zip code)</div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000;">Registrant&#8217;s telephone number, including area code: 610-989-0340</div>
        <div><br>
        </div>
        <div style="text-align: center; color: #000000;">n/a</div>
        <div style="text-align: center; color: #000000;">Former name or former address, if changed since last report</div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">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:</div>
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                    <div style="color: #000000;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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                    <div style="color: #000000;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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                    <div style="color: #000000;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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                  <td style="width: 18pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</td>
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                    <div style="color: #000000;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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        <div><br>
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        <div style="color: #000000;">Securities registered pursuant to Section 12(b) of the Act:</div>
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        </div>
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                <div style="text-align: center; color: rgb(35, 31, 32);">Title of each class</div>
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                <div style="text-align: center; color: #231F20;">Trading</div>
                <div style="text-align: center; color: #231F20;"> Symbol(s)</div>
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                <div style="text-align: center; color: #231F20;">Name of each exchange on which registered</div>
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                <div style="color: rgb(0, 0, 0);">Common Stock, no par value</div>
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                <div style="text-align: center; color: #000000;">USAT</div>
              </div>
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            <td style="width: 36.27%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
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                <div style="color: #000000;">The NASDAQ Stock Market LLC</div>
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                <div style="color: rgb(0, 0, 0);">Series A Convertible Preferred Stock, no par value</div>
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                <div style="text-align: center; color: #000000;">USATP</div>
              </div>
            </td>
            <td style="width: 36.27%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
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                <div style="color: #000000;">The NASDAQ Stock Market LLC</div>
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        <div style="text-align: justify; color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
          Act of 1934 (&#167;240.12b-2 of this chapter).</div>
        <div style="text-align: justify; color: #000000;"> <br>
        </div>
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        <div style="text-align: right; color: #000000;">Emerging growth company &#9744;</div>
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        <div><br>
        </div>
        <div style="text-align: justify; color: #000000;">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.&#160; &#9744;</div>
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                <td style="width: 49.5pt; vertical-align: top; font-weight: bold;">Item 3.01.</td>
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                  <div style="font-weight: bold;">Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.</div>
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      <div style="text-align: justify;">As previously reported, on September 24, 2019, USA Technologies, Inc. (the &#8220;Company&#8221;) received a letter from the Nasdaq Hearings Panel (the &#8220;Panel&#8221;) notifying the Company that, as a result of the Company&#8217;s failure to
        regain compliance with its periodic reporting obligations by September 23, 2019, the Panel had determined to delist the Company&#8217;s securities from trading on The Nasdaq Stock Market LLC (&#8220;Nasdaq&#8221;) and would suspend trading in these securities
        effective at the open of trading on September 26, 2019. Following the suspension of trading of the Company&#8217;s securities on Nasdaq, on October 8, 2019, the Company appealed the Panel&#8217;s determination to the Nasdaq Listing and Hearing Review Council
        (the &#8220;Listing Council&#8221;). On October 9, 2019, the Company regained compliance with its periodic reporting obligations. On November 22, 2019, the Company received a notification that the Listing Council had affirmed the decision of the Panel to
        suspend trading of the Company&#8217;s securities on Nasdaq and to delist the Company&#8217;s securities. On January 29, 2020, the Company received written notification from Nasdaq that the Nasdaq Board of Directors declined to call for review the decision of
        the Listing Council, and that the decision of the Listing Council represented the final action of Nasdaq in this matter.</div>
      <div><br>
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      <div style="text-align: justify; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">
        <div>On January 30, 2020, the Company received notification from Nasdaq that, pursuant to applicable Nasdaq listing rules and the rules promulgated under the Securities Exchange Act of 1934, as amended, Nasdaq will
          issue a press release on February 4, 2020 stating that Nasdaq will delist the Company&#8217;s securities and will file a Form 25 with the Securities and Exchange Commission to complete the delisting. The delisting of the Company&#8217;s securities from
          Nasdaq will become effective ten days after the Form 25 is filed.</div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">The Company has applied to relist its common stock and preferred stock on Nasdaq, and the application is under review by the staff of the Nasdaq Listing Qualifications Department. There can be no assurance that the
        listing application will be granted by Nasdaq or granted by Nasdaq in a timely manner.</div>
      <div><br>
      </div>
      <div style="text-align: justify;">The Company&#8217;s common stock and preferred stock will continue to be quoted on the OTC Markets under the trading symbols &#8220;USAT&#8221; and &#8220;USATP&#8221;, respectively. For quotes or additional information on the OTC Markets, you
        may visit <u>http://www.otcmarkets.com</u>.</div>
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        <div style="text-align: center; color: #000000; font-weight: bold;">SIGNATURES</div>
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        <div style="text-align: justify; color: #000000;">Pursuant to the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
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            <td style="width: 50.51%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;" colspan="2" rowspan="1">
              <div>
                <div style="text-align: justify; color: #000000;">USA TECHNOLOGIES, INC.</div>
              </div>
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            <td style="width: 50.51%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="1">&#160;</td>
            <td style="width: 47%; vertical-align: top;" rowspan="1">&#160;</td>
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              <div style="text-align: justify; color: #000000;">Dated: February 4, 2020</div>
            </td>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="1">By:</td>
            <td style="width: 47%; vertical-align: top;" rowspan="1">
              <div style="text-align: justify; color: #000000;"><u>/s/ Donald W. Layden, Jr.</u></div>
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            <td style="width: 50.51%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="1">&#160;</td>
            <td style="width: 47%; vertical-align: top;" rowspan="1">
              <div style="text-align: justify; color: rgb(0, 0, 0);">Donald W. Layden, Jr.,</div>
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            <td style="width: 50.51%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 3%; vertical-align: top;" rowspan="1" colspan="1">&#160;</td>
            <td style="width: 47%; vertical-align: top;" rowspan="1">
              <div style="text-align: justify; color: rgb(0, 0, 0);">Interim Chief Executive Officer and Executive Chairman<br>
              </div>
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