Lumera Corporation Receives NASDAQ Notification
May 22 2008 - 4:00PM
Business Wire
Lumera Corporation (NASDAQ: LMRA), a leader in the field of
photonic communications, announced today it had received notice
from The NASDAQ Stock Market stating that the Company�s
stockholders� equity at March 31, 2008 of $9,001,000 was less than
the $10 million minimum in stockholders� equity required for
continued listing on The NASDAQ Global Market under Marketplace
Rule 4450(a)(3). This notification, which was received in a letter
dated May 16, 2008, is a standard communication when stockholders�
equity is less than the $10 million minimum requirement. The letter
has no immediate effect on the listing of the Company's common
stock at this time. In its letter, NASDAQ staff requested that the
Company provide, on or before May 30, 2008, a plan to achieve and
sustain compliance with all of The NASDAQ Global Market listing
requirements, including the minimum stockholders� equity
requirement. The Company will submit a plan to comply with the
Global Market minimum listing requirements; however, should its
plan to regain compliance be deemed insufficient by NASDAQ, the
Company will pursue a transfer to the NASDAQ Capital Market where
it currently meets the continued listing requirements. The Company
does not believe that stockholders� liquidity will be adversely
impacted should a transfer to the NASDAQ Capital Market be
required. About Lumera Lumera is a leader in photonic
communications. The company designs electro-optic components based
on proprietary polymer compounds for the telecommunications and
computing industries. For more information, please visit
www.lumera.com. Certain statements contained in this release are
forward-looking statements that involve a number of risks and
uncertainties. Factors that could cause actual results to differ
materially from those projected in the company's forward-looking
statements include the following: market acceptance of our
technologies and products; our ability to obtain financing; our
financial and technical resources relative to those of our
competitors; our ability to keep up with rapid technological
change; government regulation of our technologies; our ability to
enforce our intellectual property rights and protect our
proprietary technologies; the ability to obtain additional contract
awards and to develop partnership opportunities; the timing of
commercial product launches; the ability to achieve key technical
milestones in key products; and other risk factors identified from
time to time in the company's SEC reports, including its Annual
Report on Form 10-K, and its Quarterly Reports on Form 10-Q.
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