TAUNTON – Kopin Corp. says it received a Nasdaq Staff Determination on Nov. 15, indicating that the company’s stock was in danger of being delisted from the Nasdaq Global Market.
Nasdaq’s letter said Kopin was not in compliance with Marketplace Rule 4310(c)(14), because it failed to file a timely report, on Form 10-Q, for the quarter ended Sept. 30. It indicated that the company’s common stock would be subject to unless Kopin requested a hearing before the Nasdaq Qualifications Panel.
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The company said it yesterday requested such a hearing. Its common stock will continue to be listed on the Nasdaq Global Market pending the hearing, Kopin said, but there can be no assurance that the review panel will grant the company’s request for continued listing of its common stock.
In an announcement on Nov. 1, Kopin had said: that its board of directors had appointed a special committee to review its past stock-option practices; that the company would not file its third-quarter report until after panel completed its review; and that it did not expect to be able to file the Form 10-Q by the Nov. 10 deadline.
Taunton-based Kopin Corp. (Nasdaq: KOPN) is a maker of lightweight, power-efficient, ultra-small liquid crystal displays (LCDs) and heterojunction bipolar transistors (HBTs) for a variety of applications, under trademarks including CyberDisplay and The NanoSemiconductor Co. Its technologies are protected by more than 200 global patents and patents pending. For additional information, visit www.kopin.com.
