Kopin Corporation Receives Notice From NASDAQ Due to Delay in Filing of Form 10-Q
November 18 2016 - 4:18PM
Business Wire
Kopin Corporation (NASDAQ: KOPN) today announced that on
November 15, 2016 it received a NASDAQ Staff Determination letter
indicating that the Company is not in compliance with NASDAQ
Marketplace Rule 5250(c)(1) because it did not timely file its
Quarterly Report on Form 10-Q for the quarter ended September 24,
2016. The notice also indicated that Kopin's common stock is
subject to delisting from The NASDAQ Global Market unless Kopin
provides a plan within 60 calendar days to NASDAQ Qualifications
Panel to regain compliance. If Kopin is unable to complete its
investigation and file its Form 10-Q within 60 days it will file a
plan on how it expects to regain compliance. However, there can be
no assurance that the panel will grant Kopin's request for
continued listing of its common stock.
About Kopin
Kopin Corporation is a leading developer and provider of
innovative wearable technologies and solutions for integration into
head-worn computing and display systems to military, industrial and
consumer customers. Kopin’s technology portfolio includes
ultra-small displays, optics, speech enhancement technology, system
and hands-free control software, low-power ASICs, and ergonomically
designed smart headset reference systems. Kopin’s proprietary
components and technology are protected by more than 300 global
patents and patents pending. For more information, please visit
Kopin’s website at www.kopin.com.
Safe Harbor Statement
Statements in this news release may be considered
"forward-looking" statements under the "Safe Harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These include
statements relating to: Kopin's decision to request a hearing to
review the NASDAQ Staff Determination letter; Kopin's intention to
file its Quarterly Report on Form 10-Q for the period ended
September 24, 2016 after the investigation is concluded; and the
possible delisting of Kopin's common stock from The NASDAQ Global
Market. These statements involve a number of risks and
uncertainties that could materially affect future results. These
risk factors include, but are not limited to: the potential that
Kopin may be unsuccessful in completing its investigation and
filing its Form 10-Q within 60 days and if it files a plan its plan
may not be accepted by the NASDAQ Listing Qualifications Panel;
that the NASDAQ Listing Qualifications Panel may not grant the
Company's request for continued listing of its common stock; the
timing and outcome of the investigation of the possible
embezzlement; and other risk factors and cautionary statements
listed in the Company’s periodic reports and registration
statements filed with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the 12 months
ended December 26, 2015, and the Company’s subsequent filings
with the Securities and Exchange Commission. You should not
place undue reliance on any forward-looking statements, which are
based only on information currently available to the Company and
only as of the date on which they are made. The Company undertakes
no obligation to update any of these forward-looking statements to
reflect events or circumstances occurring after the date of this
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20161118005753/en/
Kopin CorporationRichard
Sneider, 508-870-5959Treasurer and Chief Financial
OfficerRichard_Sneider@kopin.comorMarket Street PartnersJoann
Horne, 415-445-3233JHorne@marketstreetpartners.com
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