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Friday June 1, 5:55 pm Eastern Time Press Release Covad Receives Notice From Nasdaq Covad Receives Nasdaq Notice Relating to Net Tangible Assets SANTA CLARA, Calif.--(BUSINESS WIRE)--June 1, 2001--Covad Communications (Nasdaq:COVD - news), the leading national broadband services provider utilizing DSL (Digital Subscriber Line) technology, announced that it has received a Nasdaq Staff Determination indicating that the company does not meet the net tangible assets/shareholder equity requirement for continued listing set forth in Standard 1 under Nasdaq Marketplace Rule 4450 (a)(03) and that its securities are subject to delisting from the Nasdaq National Market. Covad intends to request a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination on the notice of deficiency regarding the net tangible asset/shareholder equity test and the company`s plan to achieve compliance with the listing requirements. However, there can be no assurance that the Nasdaq Listing Qualifications Panel will grant the company`s request for continued listing. ``Nasdaq has acknowledged that we rectified our deficiency regarding the filing of our Form 10-K for the year ending December 31, 2000. We currently expect to file our Form 10-Q for the quarter ending March 31, 2001, during the week of June 18, if not sooner. We are aware of this issue, as identified in our recently filed Form 10-K,`` said Chuck McMinn, Covad chairman. ``We are examining all options to maintain our listing. We will seek to convince NASDAQ that, with our first quarter results and additional funding we are seeking, Covad expects to satisfy the NASDAQ National Market listing requirements in a reasonable period of time.`` Quelle:http://biz.yahoo.com/bw/010601/0360.html |
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| aus der Diskussion: | Covad - Himmel oder Hölle |
| Autor (Datum des Eintrages): | Bannerman (04.06.01 15:47:04) |
| Beitrag: | 7 von 149 (ID:3659626) |
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