Electroglas, the beleaguered supplier of wafer testing systems to chip manufacturers, said Friday that Warren Kocmond, the chief executive it named on Feb. 9, announced  on Monday that he would be resigning as of Aug. 3, although he will continue to serve on the company’s board of directors. The company’s chairman and former CEO, Thomas Rohrs, will replace him as interim CEO.

The company cut its workforce by 15 percent in March and cut the salary of its remaining employees by that same percentage. It said at the time that the steps were “not enough to compensate for the precipitous drop in revenue” during its fiscal 2009 third quarter, which ended Feb. 28. Later in March Electroglas had its stock de-listed from Nasdaq about the same time that four of the directors on its board quit.

The company reported holding about $5 million in cash as of Feb. 28. It burned through $11.8 million in its first nine months of fiscal 2009.

Design Within Reach, the San Francisco provider of hip home furnishings, has told Nasdaq that it plans to delist its shares from the stock market on July 6, after which the company expects them to trade on the Pink Sheets, according to a filing the company made with the SEC Thursday.

The company said that the limited trading in its stock–the daily average number of shares traded over the last year amounted to about 18,000, or less than a half percent of shares outstanding, while the average trading price during that time was 85 cents–no longer justified the “expense and administrative burden” associated with ongoing listing on the Nasdaq exchange. It will continue to file periodic financial reports with the SEC.

In January the company took several steps to lower expenses enough to provide it with “the ability to continue in existence,” including restructuring real estate leases, fewer planned catalog mailings and fewer pages, delaying implementation of a new ERP system, lowered outside contractor fees “as well as headcount in all areas,” according to the company’s annual 10-K filing.

Perhaps getting rid of the Nasdaq listing is a prelude to eventually going private.

Two directors associated with the San Francisco private equity firm JH Partners resigned from the company’s board last month “to eliminate any conflicts of interest that might arise if JH Partners, were to propose an acquisition or financing transaction in connection with” Design Within Reach’s “ongoing process to review strategic alternatives.”

Aviza Technology, which itself notified the Nasdaqlisi stock market last week that it would not comply with its financial reporting rules because of its failure to timely file its quarterly 10-Q report with the SEC, received word back from Nasdaq last week confirming that, yep, it is subject to being delisted.

The company has 60 days to submit a plant to regain compliance, and if Nasdaq accepts the plan, could be granted an exception of up to 180 days, or until Nov. 9 to regain compliance before being delisted.

The Scotts Valley maker of equipment used to manufacture semiconductors, a product line that has been under unprecedented pressure during the current downturn, warned nearly a month after its March quarter ended that its results wouldn’t measure up to its previously announced guidance.

The company, which retained Needham & Co. to assist it in “reviewing financial and strategic options”, has evidently decided to focus its efforts on that review rather than devoting its resources to comply with its filing requirement, “in order to preserve the company’s financial resources in the interim”, according to a filing last week.

The company’s management is says it is taking steps to “maximize value on behalf of all of the company’s stakeholders, which may include merging with or into another company, a sale of all or substantially all of the company’s assets, or the liquidation or dissolution of the company through bankruptcy proceedings.”

Starting tomorrow, Spansion’s shares will no longer trade on the Nasdaq exchange, according to a filing the flash memory maker made Wednesday.

In its statement filed with the SEC, Spansion said it “does not expect the delisting to have any significant impact to its business.”

Spansion shares, which closed Tuesday at 17 cents each, lost 7 cents, or 41 percent, with nearly 45 million shares trading hands, nearly ten times its average volume over the last six months.

The company said it believes it is “making progress on its restructuring plans.” The company hopes to win approval of its reorganization by the end of the year, at which time it will “seek a re-listing on one of the major stock exchanges at the appropriate time after the completion of its restructuring process.”

Insite Vision, the Alameda maker of ophthalmology products, was told last week that the company’s appeal of its proposed delisting by the NYSE Amex stock exchange was denied. Beginning Monday, April 20, Insite’s shares will begin trading on the Over-the-Counter Bulletin Board and Pink Sheets listings.

Insite was no longer in compliance with listing requirements because of insufficient shareholder equity and too many operating losses in recent years, according to a regulatory filing Tuesday.

Silicon Graphics will have its shares delisted from the Nasdaq stock market beginning Thursday morning, according to an SEC filing it made Monday. The news was delivered last week to the Sunnyvale computer maker in a letter from Nasdaq that said the company had failed to become compliant with a rule that the company maintain a minimum level of stockholders’ equity or market value.

The company had been warned by Nasdaq in a letter on Dec. 1 and had until the end of last year to comply. On Jan. 13, the exchange filed a rule change with the SEC to extend the compliance period from 30 days to 90 days, which period expired March 2.

Silicon Graphcis says it has requested a hearing to stay the decision.

Genitope, the beleaguered Fremont biopharmaceutical that halted development of its experimental MyVax treatment for non-Hodgkin’s lymphoma last March after the Food and Drug Administration said at least one more clinical trial was needed, saw its largest shareholder sell off its 8.1 million stake in the company for $1 on Wednesday, according to a regulatory filing made today.

CPMG, the Dallas-based investment firm, said in a filing Friday that it sold all 8,125,370 shares it controlled to Alan Powers for a total of $1. (And yes, we plugged that into a spreadsheet and got a per-share price of $0.00000012.)

Genitope shares were delisted from the Nasdaq market back in September, a move the company didn’t fight. In a filing that month, the company said it had cash and cash equivalents of approximately $1 million as of Aug. 31, and marketable securities worth an $476,000.

The company had sold or otherwise disposed of its equipment and vacated one of its two buildings in Fremont, saying it planned to vacate the second building “in the very near future”, leaving it with a “remaining rental obligation” of $97.9 million.

It was also down to a single employee, Chief Executive Dan Denney.

Avistar Communications was warned again by Nasdaq last month that its shares are at risk of being delisted from its stock market listings. It was warned earlier this year that its stock would be delisted unless it could lift its per-share price above $1, which it finally managed to do on a consistent enough basis in August, when it won a reprieve from Nasdaq.

Now the San Mateo supplier of desktip videonconferencing and online collaboration tools, which has been in an intellectual property battle with Microsoft over numerous patents has seen its market value sink below the minimum $35 million that Nasdaq requires for continued listing.

The company has been given a 30-day grace period until Dec. 22 to to regain compliance with the $35 million market cap rule by recording a minimum closing bid price of $1.02 for a minimum of ten consecutive business days.

Quantum (NYSE:QTM), the San Jose maker of storage products, received word from the New York Stock Exchange that it is “not in compliance” with its minimum $1 listing requirement. It has until Nov. 10 to explain to the stock market its plans for rectifying the situation, and it will have until April 29 to comply with the order by having its shares trade above $1 for 30 consecutive days, according to a filing today.

The company said in a release that should it be unable to lift its shares above the required minimum, it “can proceed with a reverse stock split based on the shareholder approval it already received in August of this year.”

Quantum reported a 13 percent decline in sales to $215 million for its fiscal 2009 second quarter ended in September and a $3 million loss. Its shares are down 89 percent so far this year and hit a 52-week low today, closing at 29 cents.

In the world of reverse-splits, it rarely gets as dramatic as this. BroadVision of Redwood City said Friday it completed its 1-for-25 split, meaning that shareholders received one new post-split share in exchange for every 25 they owned. Fractional shares will be paid out in cash.

The change will be reflected when the markets open Monday. Broadvision shares (ticker:BVSN) closed Friday at 48 cents each, which will be equal to $12 now based on the reduction in shares outstanding.

“We are pleased to have completed the reverse stock split, which we hope will allow us to satisfy the minimum bid price requirement for re-listing on the Nasdaq global market,” said Broadvision’s chief financial officer, Shin-Yuan Tzou, in a statement.

BroadVision, which develops Web site applications for business, previously had its stock quoted in the Pink Sheets from March 8, 2006 to May 24, 2007. Since then, they have traded on the OTC Bulletin Board.