SAN JOSE, Calif. Four companies Friday (June 30) separately announced that they could be delisted from the Nasdaq Stock Market.
Applied Micro Circuits Corp. (Sunnyvale, Calif.) announced that due to the delay in the filing of its annual report on form 10-K for the year ended March 31, it has received a letter from the Nasdaq Stock Market indicating that the company's common stock is subject to delisting.
AMCC will appeal by requesting a hearing before the Nasdaq Listing Qualifications Panel, which will automatically stay the delisting of AMCC's common stock pending its review and determination.
As previously announced, AMCC has delayed the filing as a result of an investigation over its stock-option grant practices and related accounting.
Another chip maker, Alliance Semiconductor Corp. (Santa Clara, Calif.), said that it received a letter indicating that the company is not in compliance with Nasdaq regulations. The company's securities will be delisted from the Nasdaq Stock Market at the opening of business on July 11, 2006, unless the company requests a hearing before a Nasdaq Listing Qualifications Panel.
Meanwhile, Focus Enhancements Inc. (Campbell, Calif.), a supplier of video production and conversion technology, said that it has received a letter from Nasdaq. For the last 30 consecutive business days, the bid price of Focus' common stock has closed below the minimum $1.00 per share price requirement for continued inclusion under Nasdaq.
"If Focus Enhancements does not regain compliance within the allotted compliance period, including any extensions that may be granted by Nasdaq, Nasdaq staff will notify the company that its common stock will be delisted from The Nasdaq Capital Market," according to Focus.
And, Isonics Corp. (Golden, Colo.), a provider of products for the homeland security and semiconductor markets, has received a letter from the Nasdaq. It advised the company that it fails to meet the requirements for continued listing found in Nasdaq and also faces a delisting of its stock.