15 Sept 2014listing compliance notice▼ BadMajor
Nasdaq again warned Dataram it could be delisted for failing the stockholders'-equity requirement; the company said it had already lined up a financing, subject to shareholder approval, to fix it.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
18 July 2014capital raising announcement▼ BadMajor
Raised $750,000 through Subordinated Secured Convertible Bridge Notes and warrants, with $600,000 from institutional investors and $150,000 from the company's own management, officers and directors -- a distress-signaling bridge loan partly funded by insiders.
1 May 2014debt financing▲ GoodMajor
Dataram used its new Rosenthal & Rosenthal financing to fully repay and terminate its remaining $773,000 note to executive David Sheerr, ending years of insider lending and lowering its overall interest costs.
2 Apr 2014listing compliance notice▼ BadMajor
Dataram again fell below Nasdaq's minimum stockholders'-equity requirement, but said March capital raises (warrant exercises plus a new stock sale) had already pushed it back above the threshold.
20 Mar 2014material agreement● Neutral
Dataram extended its engagement with TriPoint Global Equities for yet another stock offering, continuing its reliance on small, repeated capital raises.
8 Nov 2013debt financing● NeutralMajor
Dataram restructured its financing again: it sold equipment to executive David Sheerr in exchange for reducing its debt to him, and separately signed a new asset-based credit line with Rosenthal & Rosenthal, replacing Crestmark as its lender.
23 Sept 2013material agreement● Neutral
The TriPoint-led offering closed, raising about $750,000 net for Dataram.
19 Sept 2013material agreement● Neutral
Dataram engaged TriPoint Global Equities to arrange another small stock-and-warrant offering, continuing its pattern of serial dilutive raises to stay funded.
1 Feb 2013listing compliance notice▼ BadMajor
Nasdaq scheduled Dataram's stock for delisting after it missed its bid-price cure deadline; the company appealed to a hearings panel and put a reverse stock split to shareholders as a fix.
14 Aug 2012material agreement● Neutral
Dataram made a minor technical amendment to its Crestmark loan's net-worth covenant definition.
6 Aug 2012listing compliance notice▼ BadMajor
Received notice from Nasdaq that it still had not regained compliance with the $1 minimum bid-price rule after an initial warning in January 2012, but was granted an extension to regain compliance until January 2013.
23 May 2012material agreement▲ Good
Dataram and Crestmark renegotiated loan terms, cutting the interest rate and raising how much the company could borrow against receivables and inventory - modest relief likely helped along by the recent $5 million patent sale.
4 Apr 2012asset acquisition disposition▲ GoodMajor
Dataram sold 13 patents and 2 pending applications covering its solid-state storage technology to Phan Tia Group for $5 million cash, while keeping a license to keep using them - a rare bright spot that significantly boosted its cash position.
16 Mar 2012material agreement▼ Bad
Dataram reported a wider fiscal third-quarter loss on falling memory prices and revenue, but flagged a new plan to monetize its patent portfolio - the first mention of the IP-sale strategy that would deliver a $5 million payday weeks later.
7 Mar 2012material agreement▼ Bad
Dataram and Crestmark cut the company's revolving credit line from $5 million to $3.5 million and tightened terms, a sign its shrinking business needed less - and could support less - borrowing capacity.
3 Feb 2012listing compliance notice▼ BadMajor
Dataram fell out of compliance with Nasdaq's $1 minimum bid-price rule, adding a share-price problem on top of its earlier equity-level issues.
15 Dec 2011listing compliance notice● Neutral
Dataram replaced its consignment arrangement with David Sheerr's company with a new $2 million secured loan directly from Sheerr, repaying and terminating the prior consignment deal in the process.
19 May 2011material agreement▲ Good
The Aegis-led stock offering closed, delivering the expected roughly $3 million in net proceeds to Dataram.
12 May 2011material agreement● NeutralMajor
Dataram raised about $3 million in a small public stock-and-warrant offering through Aegis Capital, one of several capital raises it would need to shore up its balance sheet.
17 Feb 2011listing compliance notice● Neutral
Rather than fight the equity shortfall, Dataram applied to move its listing down to the Nasdaq Capital Market, which has lower financial thresholds.
22 Dec 2010listing compliance notice▼ BadMajor
Dataram fell below Nasdaq's $10 million minimum stockholders'-equity requirement for the Global Market, the first sign of the balance-sheet weakness that would dog the company for years.
29 July 2010debt financing● NeutralMajor
Dataram replaced its bank financing with a new $5 million asset-based revolving credit line from Crestmark, secured by all company assets - its main working-capital facility for the next several years.
29 July 2010material agreement● Neutral
Dataram set up a consignment-inventory arrangement with a company owned by executive David Sheerr, under which it also agreed to repay the $1 million it had borrowed from him three months earlier.
1 Mar 2010material agreement● Neutral
Dataram borrowed $1 million from David Sheerr, the executive who ran its Micro Memory Bank unit, secured against that unit's equipment - a sign the company was leaning on insider financing to fund product development.
29 Dec 2009asset acquisition disposition● Neutral
Dataram refiled its Micro Memory Bank acquisition report to attach the full purchase agreement, which had been omitted from the original filing; no new terms.
6 Apr 2009asset acquisition disposition▲ GoodMajor
Dataram acquired the assets of Micro Memory Bank, a Pennsylvania memory maker, for under $1 million plus assumed debt, with up to 65% of the new unit's future earnings owed back to MMB's founder - a small bolt-on to diversify beyond its core DRAM business.
19 Feb 2008dividend declaration▲ Good
Dataram reported improved fiscal third-quarter results and declared a $0.06-per-share quarterly cash dividend, even as it flagged industry-wide DRAM price declines squeezing its margins.
10 July 2006material agreement● Neutral
Dataram amended its PNC bank loan to extend credit to 2008 and loosen its borrowing-base formula, though it tightened its debt-to-net-worth covenant - routine credit-facility maintenance.
14 Feb 2006material agreement● Neutral
Dataram renewed its West Windsor, New Jersey office lease but shrank the space by more than a third (24,050 to 15,200 sq ft), a modest cost-cutting move.
26 Jan 2006material agreement● Neutral
Dataram signed a new five-year lease for its Ivyland, Pennsylvania manufacturing and office space, a routine facilities matter for the memory-systems maker.