Kopin Corporation (NASDAQ: KOPN) today announced that it has appealed
the
Nasdaq Listing Qualification Staff’s
previously disclosed determination to delist the Company’s
securities from The Nasdaq Stock Market for failure to comply with
NASDAQ Marketplace Rule 4310(c)(14). As a result of the appeal, the
Nasdaq Staff’s delisting action has been
stayed pending the final outcome of a hearing scheduled for Thursday,
July 17 before the Nasdaq Hearings Panel.
On May 19, Kopin announced that it had received a NASDAQ Staff
Determination Letter indicating that the Company faced a possible
delisting because it did not timely file its Quarterly Report on Form
10-Q for the quarter ended March 29, 2008. Kopin’s
Form 10-Q was delayed pending the Company’s
review of a Request for Mediation made by a customer of the Company.
At the July 17 hearing, Kopin must demonstrate its ability to regain
compliance with the particular deficiencies cited by Nasdaq Staff, as
well as its ability to sustain long-term compliance with all applicable
maintenance criteria.
About Kopin
Kopin Corporation produces lightweight, power-efficient, ultra-small
liquid crystal displays and III-V heterojunction bipolar transistors
(HBTs) that are revolutionizing the way people around the world see,
hear and communicate. Kopin has shipped more than 20 million displays
for a range of consumer and military applications including digital
cameras, personal video eyewear, camcorders, thermal weapon sights and
night vision systems. The Company's HBTs, which help to enhance battery
life, talk time and signal clarity, have been integrated into billions
of wireless handsets as well as into WiFi, VoIP and high-speed Internet
data transmission systems. Kopin's proprietary display and III-V
technologies are protected by more than 200 global patents and patents
pending. For more information, please visit Kopin's website at www.kopin.com.
CyberDisplay and The NanoSemiconductor Company are trademarks of Kopin
Corporation.
Kopin – The NanoSemiconductor Company™ Safe Harbor Statement Statements in this news release may be considered "forward-looking”
statements under the "Safe Harbor”
provisions of the Private Securities Litigation Reform Act of 1995. These
include statements relating to: the July 17 hearing before the Nasdaq
Hearings Panel; and Kopin’s ability to regain
compliance with the particular deficiencies cited by Nasdaq Staff, as
well as its ability to sustain long-term compliance with all applicable
Nasdaq maintenance criteria. These statements involve a number of risks
and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. These risks and
uncertainties include, but are not limited to: the potential that Kopin
may be unsuccessful in obtaining a stay of delisting; the potential that
Kopin may not become current in its delinquent periodic report; and
other risk factors and cautionary statements listed in the Company’s
periodic reports and registration statements filed with the Securities
and Exchange Commission, including the Annual Report on Form 10-K for
the 12 months ended December 29, 2007, and the Company’s
subsequent filings with the Securities and Exchange Commission. You
should not place undue reliance on any forward-looking statements, which
speak only as of the date on which they are made. The Company undertakes
no responsibility to update any of these forward-looking statements to
reflect events or circumstances occurring after the date of this report.
