Item 5. Market for Registrant’s Common Equity
ITEM 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
As of September 10, 2020, there were approximately 1,896 stockholders of record of the Company’s common stock.
The Company had no sales of unregistered securities during fiscal 2020 or 2019.
The Company’s common stock is listed on the Capital Market of the NASDAQ Stock Market, LLC (“NASDAQ”) under the symbol “RAVE”. The following table shows the highest and lowest
price per share of the common stock during each quarterly period within the two most recent fiscal years, as reported by NASDAQ. Such prices reflect inter-dealer quotations, without adjustment for any retail markup, markdown or commission.
High
Low
Fiscal 2020 :
Fourth Quarter Ended 6/28/2020
$
1.23
$
0.52
Third Quarter Ended 3/29/2020
1.83
0.69
Second Quarter Ended 12/29/2019
2.85
1.44
First Quarter Ended 9/29/2019
3.21
2.04
Fiscal 2019 :
Fourth Quarter Ended 06/30/2019
$
3.60
$
1.05
Third Quarter Ended 3/24/2019
2.05
0.64
Second Quarter Ended 12/23/2018
1.74
0.91
First Quarter Ended 9/23/2018
1.60
1.20
The Company did not pay any dividends on its common stock during the fiscal years ended June 28, 2020 or June 30, 2019. Any determination to pay cash dividends in the future
will be at the discretion of the Company’s board of directors and will be dependent upon the Company’s results of operations, financial condition, capital requirements, contractual restrictions and other factors deemed relevant. Currently, there
is no intention to pay any dividends on our common stock.
2007 Stock Purchase Plan
On May 23, 2007, the Company’s board of directors approved a stock purchase plan (the “2007 Stock Purchase Plan”) authorizing the purchase on our behalf of up to 1,016,000
shares of our common stock in the open market or in privately negotiated transactions. On June 2, 2008, the Company’s board of directors amended the 2007 Stock Purchase Plan to increase the number of shares of common stock the Company may
repurchase by 1,000,000 shares to a total of 2,016,000 shares. On April 22, 2009 the Company’s board of directors amended the 2007 Stock Purchase Plan again to increase the number of shares of common stock the Company may repurchase by 1,000,000
shares to a total of 3,016,000 shares. The 2007 Stock Purchase Plan does not have an expiration date. There were no stock purchases in the fiscal year ended June 28, 2020.
The Company’s ability to purchase shares of our common stock is subject to various laws, regulations and policies as well as the rules and regulations of the Securities and
Exchange Commission (the “SEC”). Subsequent to June 28, 2020, the Company has not repurchased any outstanding shares but may make further purchases under the 2007 Stock Purchase Plan. The Company may also purchase shares of our common stock
other than pursuant to the 2007 Stock Purchase Plan or other publicly announced plans or programs .
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Equity Compensation Plan Information
The following table furnishes information with respect to the Company’s stock option equity compensation plans as of June 28, 2020:
Plan Category
Number of securities to
be issued upon exercise
of outstanding options,
warrants, and rights
Weighted average
exercise price of
outstanding options,
warrants, and rights
Number of securities
remaining available for
future issuance under
equity compensation plans
Stock option compensation plans approved by security holders
206,750
$
4.96
2,916,661
Stock option compensation plans not approved by security holders
–
–
–
Total
206,750
$
4.96
2,916,661
ITEM 6.
SELECTED FINANCIAL DATA
Not required for a smaller reporting company.
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