Aspec Technology Announces Schedule For Nasdaq Hearing.SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 24, 1998--Aspec Technology, Inc. (Nasdaq:ASPCE) today announced that it has been notified by Nasdaq that an oral hearing has been scheduled for Thursday, December 17, 1998 before a panel authorized by the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. ("NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). ") Board of Governors. The purpose of the hearing is to determine the continued listing of the Company's securities on the Nasdaq National Market due to the Company's present failure to meet the current public filing requirements as set forth in NASD Marketplace Rule 4310 (c)(14). The Company expects to have its restatement completed for fiscal years 1996, 1997 and fiscal quarters ended February 28, May 31, and August 31, 1998; and have its Form 10-Q Form 10-Q See 10-Q. for the third fiscal quarter ended August 31, 1998 on file prior to the hearing date. The above statements regarding the expected completion of the restatement of the Company's financial results and the expected filing date for the Form 10-Q are forward looking statements which are based on current expectations, beliefs, hopes, intentions, and strategies. These forward looking statements may involve substantial risks and uncertainties, including risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc possible delays in completing the restatement and the re-audit of the Company's results for fiscal 1996 and 1997 and risks of further delays with respect to the filing of the Company's Form 10-Q for the third fiscal quarter ended August 31, 1998. In addition, the Company's common stock may be delisted from the Nasdaq National Market as a result of the hearing. This may make it more difficult to obtain quotations for the common stock, the bid-ask spread Bid-Ask Spread The amount by which the ask price exceeds the bid. Notes: For example, if the bid price is $20 and the ask price is $21 then the "bid-ask spread" is $1. for the common stock would likely increase and the trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. in the common stock could be adversely affected. Actual results and developments therefore may differ materially from those described in this release. For more information about Aspec and risks arising when investing in Aspec, you are directed to Aspec's most recent reports on Form 10-Q and recent registration statement on Form S-I as filed with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. About Aspec Technology Aspec Technology, Inc. (Nasdaq:ASPCE) is a leading independent provider of semiconductor intellectual property (SIP) libraries and design services for complex IC (Integrated Circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for ) design and development. Aspec customers can significantly reduce the development time and costs associated with bringing deep sub-micron IC designs to successful silicon fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. . Aspec's verifiable physical IP libraries provide customers with the essential building blocks for developing complex ICs and system-on-chip (SOC) products. The Company offers cell-based foundation IP, including I/Os, memories, macrocells, and core cells and complex functions that are tuned to each manufacturer's process. Aspec's SIP libraries and design services are used by leading ASIC/IC/ASSP companies, electronic systems design companies and semiconductor foundries worldwide. Aspec is located at 830 East Arques Avenue, Sunnyvale, CA 94086. More information is available at http://www.aspec.com. |
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