SpatiaLight, Inc. Acknowledges Receipt of NASDAQ Delisting Notification
02 Abril 2007 - 6:24PM
PR Newswire (US)
NOVATO, Calif., April 2 /PRNewswire-FirstCall/ -- SpatiaLight, Inc.
(NASDAQ:HDTV), a developer and manufacturer of ultra
high-resolution microdisplays, announced that the Company received
a notice from the NASDAQ Stock Market on March 27, 2007 that it
does not meet the requirements for continued listing under
Marketplace Rule 4310(c)(2)(B), which requires minimum
stockholders' equity of $2,500,000, a market value of the Company's
common stock of at least $35,000,000 or net income from continuing
operations of $500,000 in the most recently completed fiscal year
or two of the last three most recently completed fiscal years. If
the Company is unable to demonstrate that the market value of its
common stock is greater than $35,000,000 by April 26, 2007, its
securities will be delisted from trading on the NASDAQ Stock
Market. The Company is examining its options for appeal and taking
the necessary steps to have its stock traded on an Over-The-Counter
Bulletin Board in the event a delisting occurs. 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. Providing
resolution of more than 6.2 million pixels, each SpatiaLight LCoS
set incorporates three proprietary imagEngine(TM) microdisplays.
The company manufactures its products at facilities in Novato and
at its larger production facility in South Korea. The company is
committed to developing microdisplay technologies that will be the
standard for the next generation of high definition televisions 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, or
Web site: http://www.spatialight.com/
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