SpatiaLight, Inc. Acknowledges Receipt of NASDAQ Delisting Notifications
30 4월 2007 - 7:00PM
PR Newswire (US)
NOVATO, Calif., April 30 /PRNewswire-FirstCall/ -- SpatiaLight,
Inc. (NASDAQ:HDTV), a leading developer and manufacturer of ultra
high-resolution Liquid Crystal on Silicon (LCoS) microdisplays for
the high definition television, near-to-eye, head mounted display
and micro-projector markets, confirmed that on April 20, 2007 it
received a notice from the NASDAQ Stock Market that it does not
meet the requirements for continued listing under Marketplace Rule
4310(c)(4) because the Company's Common Stock has closed below the
minimum $1.00 per share for 30 consecutive trading days. Unless the
closing bid price for shares of the Company's Common Stock exceeds
$1.00 per share for 10 consecutive trading days prior to October
17, 2007, the staff of the NASDAQ may notify the Company that the
Common Stock will be delisted from the NASDAQ Capital Market.
SpatiaLight also indicated that it received on April 27, 2007 a
NASDAQ Staff Determination letter that the Company has failed to
meet the NASDAQ Marketplace Rule 4310(c)(8)(C) requirements for the
market value of publicly held shares and would be delisted from the
NASDAQ Capital Market unless a request for an appeal hearing is
made by May 4, 2007. The Company will request such an appeal
hearing and present its case by disclosing to the hearing board
confidential information for bringing the Company into compliance
and plans to maintain future compliance. The anticipated hearing
date will be no earlier than June, 2007. Until a determination is
made on the appeal, the Company's Common Stock is expected to be
traded on the NASDAQ Capital Market under the HDTV symbol. About
SpatiaLight SpatiaLight, Inc., founded in 1989 in Novato, Calif.,
manufactures high-resolution LCoS microdisplays for use in a
variety of display applications, including high definition
television, near to eye head mounted displays and micro-projector
products. The company manufactures its products at its production
facility in South Korea. The company is committed to developing
microdisplay technologies that will be the standard for the next
generation of these products and to providing OEMs with the most
cost effective, high-resolution microdisplays in the industry. For
more information about SpatiaLight, please visit the company's
website at: http://www.spatialight.com/ . Safe Harbor Statement
This news release includes forward-looking statements that reflect
SpatiaLight's current expectations about its future results,
performance, prospects and opportunities. SpatiaLight has tried to
identify these forward- looking statements by using words and
phrases such as "may," "will," "expects," "anticipates,"
"believes," "intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions. These
forward-looking statements are based on information currently
available to SpatiaLight and are subject to a number of risks,
uncertainties and other factors that could cause SpatiaLight's
actual results, performance, prospects or opportunities in the
remainder of 2007 and beyond to differ materially from those
expressed in, or implied by, these forward-looking statements.
These risks and uncertainties are outlined in the Company's filings
with the U. S. Securities and Exchange Commission, including its
most recent reports on Forms 10-Q and 10-K. DATASOURCE:
SpatiaLight, Inc. CONTACT: SpatiaLight, Inc., +1-415-883-1693, Web
site: http://www.spatialight.com/
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