Borland Receives Nasdaq Delisting Notice Due to Delayed Form 10-Q.CUPERTINO, Calif. -- Borland Software Corporation (company) Borland Software Corporation - A company that sells a variety of PC software development and database systems. Borland was founded in 1983 and initially became famous for their low-cost software, particularly Turbo Pascal, Turbo C, and Turbo Prolog. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BORL), today announced that on November 17, 2006, Borland Software Corporation ("Borland") received a notice from the staff of The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. stating that Borland is not in compliance with Marketplace Rule 4310(c)(14) because it has not timely filed its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 2006. The notice is automatically generated by Nasdaq and indicated that, unless Borland requests an appeal of this determination, trading of Borland's common stock will be suspended at the opening of business on November 28, 2006. Borland intends to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2006 with the SEC shortly. The Form 10-Q can be found at http://www.sec.gov when filed. Borland intends to request a hearing before a Nasdaq Listing Qualifications Panel (the "Panel") to appeal the Nasdaq staff's determination. The hearing request will automatically stay the 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. of Borland's common stock pending the Panel's decision. There can be no assurance, however, that the Panel will grant Borland's request or that Borland's common stock will not be delisted. About Borland Founded in 1983, Borland (NASDAQ: BORL) is a global leader in application lifecycle management The administration and control of an application from inception to its demise. It embraces requirements management, system design, software development and configuration management and implies an integrated set of tools for developing and controlling the project. (ALM), providing solutions that make software delivery a more manageable, efficient and predictable business process. Borland provides the software, services and training that enable companies to achieve Software Delivery Optimization and maximize the business value of software. To learn more about delivering quality software, on time and within budget, visit http://www.borland.com. Borland and all other Borland brand and product names are trademarks or registered trademarks of Borland Software Corporation in 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. and other countries. All other marks are the property of their respective owners. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains statements that are forward-looking in nature, including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the potential delisting of Borland's common stock and the timing of filing of the Form 10-Q for the quarter ended September 30, 2006. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary, perhaps materially, from those contained or suggested by these statements. Factors that could affect these statements include, but are not limited to, actions or decisions of the Panel. More information on risks and uncertainties related to Borland and its business may be found in its quarterly and annual reports filed with the United States Securities and Exchange Commission. Borland assumes no obligation and does not intend to update any forward-looking statements, whether as a result of new information, future events or otherwise. Information contained in our website is not incorporated by reference in, or made part of this press release. |
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