Bell Microproducts, the San Jose electronics distributor whose shares were delisted from Nasdaq because the company was persistently delinquent in filing required financial documents with the SEC, became current with its annual financial filings Monday when it published results for fiscal years 2007 and 2008.
Turns out that 2007 was Read the rest of this entry »
Bruce Peacock resigned today from the board of directors after serving less than two years there, where he also chaired its audit committee and was deemed its “financial expert” as defined by SEC rules. The resignation would leave the company with only two directors serving on its audit committee, a technical violation of a Nasdaq requirement that it be staffed by at least three independent directors.
Peacock, a venture partner at SV Life Sciences Advisers since Read the rest of this entry »
The Nasdaq stock market has found yet another reason why Spansion’s stock should be delisted, in addition to the facts that the company has filed for bankruptcy and is unable to file its annual 10-K financial report with the Securities and Exchange Commission. Spansion has also failed to pay the necessary fees for continued listing, according to a press release it distributed via PRNewswire.
Good luck with that appeal, which the company says it plans to make.
Citing the expense of complying with its obligations under regulations of the Securities and Exchange Rules, the Sarbanes-Oxley Act, and Nasdaq’s own listing requirements, Proxim Wireless said Thursday it intends to voluntarily delist its stock from Nasdaq.
The Milpitas supplier of high-speed wireless communications equipment, said it anticipates the last day of trading for its common stock on Nasdaq’s Capital Market would be Read the rest of this entry »
Shares of Electroglas, the San Jose maker of chip manufacturing equipment that is struggling to stay afloat during the worst downturn ever for chip makers and the company’s that serve them, will no longer be traded on Nasdaq as of Monday morning.
The delisting follows the withdrawal by the company of its Read the rest of this entry »
In response to a notice it got Feb. 18 from Nasdaq that its shareholder equity as of Dec. 31 was below the stock market’s $10 million minimum, Pharmacyclics said in a filing today it was submitting a plan today “to achieve and sustain compliance with the continued listing requirements.”
The Sunnyvale pharmaceutical’s stockholders’ equity on Dec. 31, 2008 was $8,032,000, but did not include the effects of the $5 million loan the company received from its chief executive, Robert Duggan, nor its recently completed sale $1.4 million worth of stock.
Shares of Vermillion, the Fremont company formerly known as Ciphergen Biosystems that develops medical diagnostic tests, were delisted from the Nasdaq stock market last week after failing to lift its stockholder equity above the minimum level required for continued listing. Its shares (ticker: VRML) can now be found in the Pink Sheets, an electronic quotation service for stocks traded over-the-counter, according to a company filing Thursday.
In July, Vermillion agreed to pay ThinkPanmure, a San Francisco “global growth company” investment banking firm, a $150,000 retainer out of its $5 million in remaining cash Read the rest of this entry »
Veraz Networks of San Jose lowered expectations for sales in its 2008 second quarter, saying the “June quarter was impacted by a challenging business environment,” according to a press release the company put out before U.S. markets opened Tuesday.
“While our Q2 bookings were satisfactory, the bookings did not translate into Q2 revenues as expected,” said the company’s chief executive, Doug Sabella, in a (under)statement in the release. The company now expects revenue for the quarter ended June 30 “to be in the range of Read the rest of this entry »
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