Ault Incorporated Announces Receipt of Nasdaq Letter Regarding Delisting.MINNEAPOLIS Minneapolis (mĭn'ēăp`əlĭs), city (1990 pop. 368,383), seat of Hennepin co., E Minn., at the head of navigation on the Mississippi River, at St. Anthony Falls; inc. 1856. -- Ault Ault as a personal name can refer to:
The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. requirement of $10,000,000 for continued listing on The Nasdaq National Market as set forth in Marketplace Rule 4450(a)(3). The determination was based on information in the Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed on August 9, 2005, which included the Company's financial results and stockholders' equity of $7,950,325 for the fiscal year ended May 29, 2005. This is the second letter the Company has received recently from the Nasdaq Listing Qualifications Department. On August 26, 2005 the Company filed a Notification of Late Filing Report on Form 12b-25 with the Securities and Exchange Commission reporting that it would not be able to timely file its 2005 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Then, on September 15, the Company received a letter from the Listing Qualifications Department advising the Company of its non-compliance due to the failure to file its Form 10-K for the year ended May 29, 2005. The letter advised that the Company's securities are subject to delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. from the Nasdaq National Market on September 26, 2005. After the receipt of the September 15th letter, the Company requested a hearing before a Nasdaq Listing Qualifications Panel. The hearing date is set for Thursday, October 6 in Washington, D.C. The Company plans to file its Form 10-K for the year ended May 29, 2005 in early October. In addition, the Company is beginning the process to move its securities listing to the Nasdaq Smallcap Market. Ault is a leading manufacturer of power conversion products headquartered in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The Company is a major supplier to original equipment manufacturers of wireless and wire line communications infrastructure, computer peripherals and handheld devices, medical equipment, industrial equipment and printing/scanning equipment. Statements regarding Ault's anticipated future performance are forward-looking and therefore involve risks and uncertainties that could cause results or developments to differ significantly from those indicated in the forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These include, but are not limited to: market conditions in the global electronics industry, buying patterns of major customers, competitive products and technologies, the ability to control expense growth, and other factors set forth in the Company's filings with the Securities and Exchange Commission. |
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