Ault Incorporated Announces Receipt of Nasdaq Letter Regarding Delisting
2005年9月30日 - 2:19AM
ビジネスワイヤ(英語)
Ault Incorporated (Nasdaq:AULTE) today reported receipt of a Nasdaq
Staff Determination letter dated September 27, 2005. The letter
indicated that the Company fails to comply with the stockholders'
equity requirement of $10,000,000 for continued listing on The
Nasdaq National Market as set forth in Marketplace Rule 4450(a)(3).
The determination was based on information in the Form 8-K filed on
August 9, 2005, which included the Company's financial results and
stockholders' equity of $7,950,325 for the fiscal year ended May
29, 2005. This is the second letter the Company has received
recently from the Nasdaq Listing Qualifications Department. On
August 26, 2005 the Company filed a Notification of Late Filing
Report on Form 12b-25 with the Securities and Exchange Commission
reporting that it would not be able to timely file its 2005 Annual
Report on Form 10-K. Then, on September 15, the Company received a
letter from the Listing Qualifications Department advising the
Company of its non-compliance due to the failure to file its Form
10-K for the year ended May 29, 2005. The letter advised that the
Company's securities are subject to delisting from the Nasdaq
National Market on September 26, 2005. After the receipt of the
September 15th letter, the Company requested a hearing before a
Nasdaq Listing Qualifications Panel. The hearing date is set for
Thursday, October 6 in Washington, D.C. The Company plans to file
its Form 10-K for the year ended May 29, 2005 in early October. In
addition, the Company is beginning the process to move its
securities listing to the Nasdaq Smallcap Market. Ault is a leading
manufacturer of power conversion products headquartered in North
America. The Company is a major supplier to original equipment
manufacturers of wireless and wire line communications
infrastructure, computer peripherals and handheld devices, medical
equipment, industrial equipment and printing/scanning equipment.
Statements regarding Ault's anticipated future performance are
forward-looking and therefore involve risks and uncertainties that
could cause results or developments to differ significantly from
those indicated in the forward-looking statements. These include,
but are not limited to: market conditions in the global electronics
industry, buying patterns of major customers, competitive products
and technologies, the ability to control expense growth, and other
factors set forth in the Company's filings with the Securities and
Exchange Commission.
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