TAUNTON – Kopin Corp. (Nasdaq: KOPN) last night announced it has received a non-compliance letter from Nasdaq, as expected, for failing to file its quarterly report for the fiscal first quarter ended March 29.
Kopin said it has delayed the report “pending review of a recently filed Request for Mediation made by a customer.” The company said the request – filed by ”a privately held company based in the European Union – makes claims relating to certain representations and actions of an employee of a subsidiary of Kopin.”
Seifert Systems Invests in Energy Efficiency to Strengthen Operations
For manufacturers, energy is more than just another operating expense. It plays a critical role…
Learn More
By not filing its Form 10-Q with the U.S. Securities and Exchange Commission, however, Kopin has violated Marketplace Rule 4310(c)(14), the Nasdaq Staff Determination letter said. Kopin’s common stock will be delisted from the exchange at the opening of business on May 28, unless the company requests a hearing before the Nasdaq Listing and Qualifications Panel.
Kopin said it does intend to request a hearing to appeal the Nasdaq ruling.
That request “will stay the delisting until the Nasdaq Listing Qualifications Panel has reached a decision,” the company noted. “However, there can be no assurance that the Nasdaq Listing Qualifications Panel will grant the company’s request for continued listing of its common stock.”
Last year, Kopin had been cited by Nasdaq for delays in filing its SEC reports for the second through fourth quarters of 2007, as the company probed and recalculated the effect of its past stock-option granting practices. The last of those delayed filings, the company’s 2007 fourth quarter and full-year report, was submitted in late March. (READ MORE)
Today through Thursday, Kopin is showcasing its new Digital iVision technology – which makes possible a 0.44-inch-diagonal screen that is the world’s smallest SVGA liquid-crystal display – at the Society for Information Display’s 2008 Exhibition at the Los Angeles Convention Center.
Kopin Corp. (Nasdaq: KOPN) develops and manufactures telecommunications and digital imaging technologies under the Kopin, CyberDisplay and NanoSemiconductor Co. trademarks. Additional information is available at www.kopin.com.
