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OCZ Receives Extension to Regain Compliance with NASDAQ Listing Requirements

Discussion in 'News' started by btarunr, Dec 20, 2012.

  1. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that the Nasdaq Stock Market ("Nasdaq") has accepted the Company's plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") which will permit the continued listing of the Company's stock on the Nasdaq Capital Markets.

    On December 17, 2012, the Company submitted to Nasdaq a plan to regain compliance with the Rule. After reviewing the Company's plan to regain compliance, Nasdaq granted an exception to enable the Company to regain compliance with the Rule. Under the terms of the exception, on or before February 28, 2013, the Company must file its 10-Q for the period ended August 31, 2012 and all other delinquent periodic reports, as required by the Rule.
  2. Easy Rhino

    Easy Rhino Linux Advocate

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    terribly uninformative press release/article.

    (c) Obligation to File Periodic Financial Reports

    (1) A Company shall timely file all required periodic financial reports with the Commission through the EDGAR System or with the Other Regulatory Authority. A Company that does not file through the EDGAR System shall supply to Nasdaq two (2) copies of all reports required to be filed with the Other Regulatory Authority or email an electronic version of the report to Nasdaq at continuedlisting@nasdaq.com. All required reports must be filed with Nasdaq on or before the date they are required to be filed with the Commission or Other Regulatory Authority. Annual reports filed with Nasdaq shall contain audited financial statements.

    Looks like somebody over at OCZ either forgot to file, is a lumbering idiot, or is being purposefully deceitful.
    Jack Doph says thanks.
  3. lemonadesoda

    lemonadesoda

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    In previous news here on TPU, OCZ admitted misrepresentation of accounts, discovered by the shareholders, who had demanded an audit. So the last word in your quote is operative.
    Easy Rhino says thanks.
  4. Easy Rhino

    Easy Rhino Linux Advocate

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    damn. i bet times are hard over there. sell any of their stock if you have it and dont buy any of their new products. you know they are cutting corners.

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