Liquidmetal Technologies to Be Delisted from Nasdaq National Market Any thoughts?
Thursday July 15, 6:45 am ET
LAKE FOREST, Calif.--(BUSINESS WIRE)--July 15, 2004--Liquidmetal Technologies, Inc. (NASDAQ:LQMTE - News) was notified by the Nasdaq Listing Qualifications Panel, in a letter dated July 14, 2004, that the Company's common stock will be delisted from the Nasdaq National Market effective with the open of business on Friday, July 16, 2004. Although the Company intends to appeal the Panel's determination to the Nasdaq Listing and Hearing Review Council, the appeal will not stay the delisting.
As previously disclosed, Liquidmetal was subject to delisting for its failure to comply with Marketplace Rule 4310(c)(14) due to the company's inability to file its Form 10-K for the fiscal year 2003 and Form 10-Q for the first quarter of 2004.
Because the Company is not current in its periodic filings, its common stock will not be immediately eligible to trade on the OTC Bulletin Board but can be eligible for quotation on the OTC Pink Sheets. The Company will release further timing and trading symbol information with regard to this when it becomes available.
Liquidmetal intends to file the necessary Forms 10-K and 10-Q upon completion of the ongoing audit and financial review by its independent auditors, thereby regaining compliance in its periodic reporting requirements under the Exchange Act of 1934. Regaining compliance may allow the Company's shares to then be eligible for trading on the OTC Bulletin Board, until such time as the Company once again meets the requirements for Nasdaq listing.