Ciprico Receives Notice from NASDAQ Due to Delayed Filing of Quarterly Report
28 Mai 2008 - 3:07PM
Business Wire
Ciprico Inc. (Nasdaq: CPCI) (the �Company�) today announced that it
received a Nasdaq Staff Determination notice on May 21, 2008
indicating that the Company is not in compliance with the filing
requirements for continued listing as set forth in Nasdaq
Marketplace Rule 4310(c)(14). The Company anticipated receipt of
this notice because, as previously disclosed, it would not be
timely with its filing of Form 10-QSB for the quarter ended March
31, 2008. The headcount reduction announced in March impacted the
finance and accounting team who are responsible for preparing the
filing. Over this same time period this team has also been
assisting with the Company�s strategic alternative analyses. The
notice is automatically generated by Nasdaq and indicated that due
to such non-compliance, the Company's common stock is subject to
potential delisting. The Company, in accordance with Nasdaq
procedures, has requested a hearing to review the determination
notice before a Nasdaq Listing Qualifications Panel (the "Panel").
The hearing request will automatically stay the suspension of
trading of the Company's common stock on the Nasdaq Capital Market
until the hearing can be scheduled and convened, typically 30 to 45
days after the request. The Company will work toward continued
listing, but there can be no assurance that the Panel will grant
the Company's request for continued listing. About Ciprico Ciprico
Inc. (Nasdaq: CPCI) is a leading provider of intelligent storage
software, solutions and appliances for enterprise class IT servers,
professional workstations and digital media workflows. Ciprico is
headquartered in Minneapolis, MN. More information about Ciprico is
available at www.ciprico.com.
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