Embarcadero Technologies, Inc. Receives NASDAQ Notice of Non-Compliance
March 27 2007 - 1:30PM
Business Wire
Embarcadero Technologies, Inc. (NASDAQ:EMBT) today announced that,
as expected, on March 21, 2007, it received an additional notice of
non-compliance from the Staff of The Nasdaq Stock Market
(�NASDAQ�), stating that Embarcadero is not in compliance with
NASDAQ Marketplace Rule 4310c(14), due to the delay in filing its
Annual Report on Form 10-K for the fiscal year ended December 31,
2006 (the �Form 10-K�). As previously announced, Embarcadero
received a NASDAQ notice of non-compliance on November 15, 2006 in
relation to the delay in filing its Report on Form 10-Q for the
quarter ended September 30, 2006 (�Third Quarter Form 10-Q�). The
Third Quarter Form 10-Q and Form 10-K filing delays are
attributable to the fact that a Special Committee appointed by
Embarcadero�s Board of Directors has been conducting a review of
Embarcadero�s historical stock-based compensation practices. In
response to the first notice of non-compliance, Embarcadero
requested a hearing before a NASDAQ Listing Qualifications Panel
(the �Panel�). Following the hearing, the Panel granted
Embarcadero�s request for continued listing, provided that
Embarcadero meets certain requirements. Those requirements are that
Embarcadero (i) provide NASDAQ with specified information regarding
the results of the Special Committee�s review on or about March 1,
2007 (which information was provided by Embarcadero to NASDAQ on
March 1, 2007), (ii) file the Third Quarter Form 10-Q, any other
delinquent periodic reports, and any required restatements on or
before April 18, 2007, and (iii) comply with all other requirements
for continued listing on NASDAQ. The Special Committee�s review is
now substantially complete. The current NASDAQ notice requests that
Embarcadero make a new submission to the Panel. Accordingly,
Embarcadero intends to provide the Panel with a submission
describing its efforts to file the Form 10-K on or before the April
18 deadline. There can be no assurance that Embarcadero will be
able to satisfy the Panel�s conditions described above within the
prescribed deadlines. In the event that Embarcadero is unable to
comply with these conditions, Embarcadero�s securities may be
delisted. About Embarcadero Technologies Embarcadero Technologies,
Inc. (NASDAQ:EMBT) is a leading provider of strategic data
management solutions that help companies to improve the
availability, integrity, accessibility, and security of corporate
data. Nearly 12,000 customers, including 97 of the Fortune 100,
rely on Embarcadero Technologies solutions to maximize their return
on corporate data assets and to meet the challenges of explosive
data growth, escalating data security requirements, and complex,
multi-platform data environments. Embarcadero Technologies is
headquartered in San Francisco, CA. For more information, call
415/834-3131 or visit www.embarcadero.com. Forward-Looking
Statements The statements in this press release that are not
historical facts are forward-looking statements that involve risks
and uncertainties, including risks associated with non-compliance
with NASDAQ listing requirements and the possible delisting of our
securities, the ability of the Audit Committee to complete its
review, any findings or restatements resulting from such review and
fluctuations in quarterly results and other risks identified in the
Company�s periodic filings with the Securities and Exchange
Commission including, but not limited to, those appearing under the
caption �Risk Factors� in the Company�s most recent Quarterly
Reports on Form 10-Q and Annual Report on Form 10-K. Actual
results, events, and performance may differ materially. Readers are
cautioned not to place undue relevance on these forward-looking
statements, which speak only as of the date hereof. Except as
required by law, the Company does not intend to release publicly
the result of any revisions to these forward-looking statements
that may be made to reflect events or circumstances after the date
hereof or to reflect the occurrence of anticipated events.
Embarcadero, the Embarcadero Technologies logos and all other
Embarcadero Technologies product or service names are trademarks of
Embarcadero Technologies, Inc. All other trademarks are property of
their respective owners.
Ember Therapeutics (CE) (USOTC:EMBT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ember Therapeutics (CE) (USOTC:EMBT)
Historical Stock Chart
From Oct 2023 to Oct 2024