TAUNTON – Kopin Corp. (Nasdaq: KOPN) has been granted a July 17 hearing of The Nasdaq Stock Market’s decision earlier this month to de-list the company for failing to file its most recent quarterly report.
On May 19, the company announced it had received a non-compliance letter, as expected, from the Nasdaq staff. The company’s failure to file a Form 10-Q with the U.S. Securities and Exchange Commission placed Kopin in violation of Marketplace Rule 4310(c)(14), the letter said. (READ MORE)
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Kopin – a developer and maker of ultra-small liquid-crystal displays (LCDs), III-V heterojunction bipolar transistors (HBTs) and other hardware for a variety of uses – says it has delayed the quarterly financial report to give itself time to evaluate a recent request for mediation. That request, filed by an unnamed European customer, “makes claims relating to certain representations and actions of an employee of a subsidiary of Kopin,” the company said.
The Nasdaq initially had told Kopin its common stock would be de-listed on May 28, unless the company filed an appeal. Now, any de-listing action has been stayed pending the final outcome of Kopin’s upcoming appeal before the Nasdaq hearings panel.
At the July 17 hearing, Kopin must demonstrate its ability to regain compliance with the particular deficiencies cited by Nasdaq staff, as well as its ability to sustain long-term compliance with all applicable maintenance criteria, the company said.
Kopin Corp. (Nasdaq: KOPN) develops and manufactures telecommunications, digital imaging and other technologies under the Kopin, CyberDisplay and NanoSemiconductor Co. brands. Additional information is available at www.kopin.com.
