Last $0.48 USD
Change Today +0.04 / 9.09%
Volume 102.1K
CRMB On Other Exchanges
Symbol
Exchange
NASDAQ CM
NASDAQ CM
As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

crumbs bake shop inc (CRMB) Snapshot

Open
$0.45
Previous Close
$0.44
Day High
$0.51
Day Low
$0.43
52 Week High
10/24/13 - $1.55
52 Week Low
04/15/14 - $0.43
Market Cap
6.0M
Average Volume 10 Days
206.8K
EPS TTM
--
Shares Outstanding
12.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for CRUMBS BAKE SHOP INC (CRMB)

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crumbs bake shop inc (CRMB) Details

Crumbs Bake Shop, Inc. sells various cupcakes, cakes, cookies, and other baked goods under the trade name of Crumbs Bake Shop. It also sells hot and cold beverages. The company offers its products through company-operated stores, as well as through its Website crumbs.com. It is also involved in catering and wholesale distribution businesses. As of December 31, 2013, the company operated 70 Crumbs Bake Shop stores in 12 states and Washington, D.C. Crumbs Bake Shop, Inc. is based in New York, New York.

165 Employees
Last Reported Date: 03/31/14

crumbs bake shop inc (CRMB) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $225.0K
Senior Vice President of Human Resources
Total Annual Compensation: $188.5K
Compensation as of Fiscal Year 2012.

crumbs bake shop inc (CRMB) Key Developments

Crumbs Bake Shop, Inc. Receives Non-Compliance Notice From Nasdaq

On April 9, 2014, Crumbs Bake Shop, Inc. received a letter from the Listing Qualifications department of Nasdaq notifying the company that it no longer satisfies the standards for continued listing on the Nasdaq Capital Market as set forth in Nasdaq Listing Rule 5550(b). To meet these continued listing standards, the company must satisfy at least one of the following: (i) it must maintain stockholders’ equity of at least $2.5 million; (ii) the market value of its listed equity securities must be at least $35 million; and/or (iii) it must have recorded net income from continuing operations of at least $500,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years. As reported in the company’s annual report on Form 10-K for the year ended December 31, 2013, the company’s total stockholders’ equity at December 31, 2013 was approximately $1.0 million. In addition to addressing the stockholders’ equity standard, the notice stated that Nasdaq has determined that the company does not meet either of the alternative market value or net income standards. The notice does not result in the immediate delisting of the company’s common stock from the Nasdaq Capital Market. Rather, in accordance with Nasdaq Listing Rules, the company has until May 24, 2014 (i.e., 45 calendar days from the date of the notice) to submit a plan to regain compliance. If the company submits a plan, then Nasdaq will determine whether to accept the plan, considering such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the company’s past compliance history, the reasons for the company’s current non-compliance, other corporate events that may occur within the review period, the company’s overall financial condition, and the company’s public disclosures. If the plan is accepted, then Nasdaq can grant an extension of up to 180 calendar days from the date of the notice for the company to evidence compliance. If Nasdaq does not accept the plan and determines to delist the company’s common stock, then the company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The company intends to submit a plan to regain compliance with the continued listing standards. No assurance can be given, however, that Nasdaq will accept the company’s plan and/or grant an extension to allow the company to evidence compliance. Further, even if Nasdaq accepts the plan, no assurance can be given that the company will be able to regain compliance with the continued listing standards within the extension period granted by Nasdaq.

Crumbs Bake Shop, Inc. Announces Board Changes

On April 1, 2014, Leonard A. Potter resigned from the Board of Directors of Crumbs Bake Shop, Inc. and from the Board of Managers of Holdings. Mr. Potter's notification to the Boards did not indicate that he was resigning due to any disagreement with the company on any matter relating to its operations, policies or practices. On April 1, 2014, at the recommendation of its Nominating and Governance Committee, the Board of Directors of Crumbs elected Mark Liebel and Scott Fischer to serve as directors of Crumbs until the 2014 annual meeting of stockholders and until their successors are duly elected and qualified. Messrs. Liebel and Fischer, who will fill the vacancies created by Mr. Potter's resignation and the previously-announced resignation of Mark A. Klein, were designated for election by the Lender and elected by the Board pursuant to the terms of the Loan Agreement.

Crumbs Bake Shop, Inc. Auditor Raises 'Going Concern' Doubt

Crumbs Bake Shop, Inc. filed its 10-K on Mar 31, 2014 for the period ending Dec 31, 2013. In this report its auditor, Rothstein, Kass & Company, P.C., gave an unqualified opinion expressing doubt that the company can continue as a going concern.

 

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