Quantum Provides Business Update
2024年3月26日 - 5:05AM
ビジネスワイヤ(英語)
Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"),
the pioneer in end-to-end data management solutions designed for
the AI era, today filed a Form 8-K regarding several business
updates, including reiterating its efforts to be current with its
SEC financial reports by May 7, 2024.
On March 19, 2024, the Company received a letter (the “Letter”)
from the listing qualifications staff (the “Staff”) of The Nasdaq
Stock Market LLC (“Nasdaq”) regarding the Company’s non-compliance
with the $1.00 bid price requirement for continued listing on the
Nasdaq Global Market, as set forth in Nasdaq Listing Rules
5450(a)(1). Accordingly, the Company requested a hearing in
response to the Letter to present to the Nasdaq Hearings Panel (the
“Panel”) its plan to comply with all applicable requirements for
continued listing on Nasdaq and request an additional 180-day
extension to do so. Although there can be no assurance that the
Panel will grant the Company’s request for an extension, the
Company is diligently working to comply with all of the applicable
Nasdaq listing criteria within the period of time that the Panel
may grant.
Also as part of today’s news, Quantum filed a Form 8-K regarding
an amendment to the Company’s term loan credit and security
agreement, which stipulates that proceeds related to the
disposition of assets be used to improve financial flexibility,
including the pay-down of existing debt. This amendment is
consistent with the Company’s broader efforts to prioritize certain
financial and business projects targeting improvements to working
capital, acceleration of new products and a more focused
business.
As previously disclosed, the Company is in the process of
re-evaluating its application of standalone selling price under
Accounting Standards Codification Topic 606 ("ASC 606") that has
resulted in the delayed filing of its Form 10-Qs for the second and
third fiscal quarters of fiscal year ending March 31, 2024. This
re-evaluation process has involved an extensive and detailed
analysis of the current financial periods as well as historical
quarterly and annual reports. Although the Company, along with its
independent registered public accounting firm, is making
significant progress, additional time is being taken in order to
make a final determination.
About Quantum
Quantum delivers end-to-end data management solutions designed
for the AI era. With over four decades of experience, our data
platform has allowed customers to extract the maximum value from
their unique, unstructured data. From high-performance ingest that
powers AI applications and demanding data-intensive workloads, to
massive, durable data lakes to fuel AI models, Quantum delivers the
most comprehensive and cost-efficient solutions. Leading
organizations in life sciences, government, media and
entertainment, research, and industrial technology trust Quantum
with their most valuable asset – their data. Quantum is listed on
Nasdaq (QMCO). For more information visit www.quantum.com.
Quantum and the Quantum logo are registered trademarks of
Quantum Corporation and its affiliates in the United States and/or
other countries. All other trademarks are the property of their
respective owners.
Forward-Looking Information
The information provided in this press release may include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 (Exchange Act). These forward-looking statements are
largely based on our current expectations and projections about
future events affecting our business. Such forward-looking
statements include, in particular, statements related to the
ongoing re-evaluation of certain accounting matters; timing of
completion of the re-evaluation and filing of the Form 10-Qs; the
Company’s ability to maintain compliance with the listing standards
of Nasdaq; and the Company’s plans, objectives and intentions that
are not historical facts generally.
These forward-looking statements may be identified by the use of
terms and phrases such as “anticipates”, “believes”, “can”,
“could”, “estimates”, “expects”, “forecasts”, “intends”, “may”,
“plans”, “projects”, “targets”, “will”, and similar expressions or
variations of these terms and similar phrases. Additionally,
statements concerning future matters and other statements regarding
matters that are not historical are forward-looking statements.
Investors are cautioned that these forward-looking statements
relate to future events or our future performance and are subject
to business, economic, and other risks and uncertainties, both
known and unknown, that may cause actual results, levels of
activity, performance or achievements to be materially different
from those expressed or implied by any forward-looking
statements.
These forward-looking statements involve risks and uncertainties
that could cause actual results to differ materially from those
projected, including without limitation, the following: the outcome
of the pending re-evaluation of accounting matters and the
possibility of adjustments, including material adjustments, to the
Company’s financial statements as the re-evaluation progresses; the
discovery of additional and unanticipated information during the
re-evaluation process; risks related to the timely completion of
the re-evaluation and filing of the Form 10-Qs; the ability to meet
stock exchange continued listing standards; the possibility that
the Nasdaq may delist the Company’s securities; the possibility
that the Nasdaq Hearings Panel may not grant an additional
extension; risks related to the Company’s ability to implement and
maintain effective internal control over financial reporting in the
future; the impact of these factors on the Company’s performance
and outlook. See also other risks that are described in “Risk
Factors” in the Company’s filings with the Securities and Exchange
Commission (the SEC), including its Annual Report on Form 10-K
filed with the SEC for the fiscal year ended March 31, 2023, and
any subsequent reports filed with the SEC. The Company does not
intend to update or alter its forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by applicable law or regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20240325245773/en/
Investor Relations Contacts: Shelton Group Leanne K.
Sievers | Brett L. Perry P: 949-224-3874 | 214-272-0070 E:
sheltonir@sheltongroup.com
Quantum (NASDAQ:QMCO)
過去 株価チャート
から 4 2024 まで 5 2024
Quantum (NASDAQ:QMCO)
過去 株価チャート
から 5 2023 まで 5 2024