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Tripath Technology Appeals Staff Determination Letter from Nasdaq.


SAN JOSE San Jose, city, United States
San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850.
, Calif. -- Tripath Technology Inc. (Nasdaq:TRPH TRPH Total Recoverable Petroleum Hydrocarbons ) today announced that it has received and is appealing, a Staff Determination Letter from Nasdaq. The Staff Determination Letter, which was received on May 26, 2005, indicates that the Staff had on April 25, 2005 notified the Company that the market value of its listed securities had been below the minimum $50 million required for inclusion set forth in Marketplace Rule 4450(b)(1)(A) for the previous 10 consecutive trading days and in accordance with Marketplace Rule 4450(e)(4) the Staff had provided the Company with 30 calendar days, or until May 25, 2005, to regain compliance. The Staff Determination Letter further indicates that the Company has not regained compliance in accordance with Marketplace Rule 4450(e)(4). Accordingly, the common stock of Tripath Technology Inc. is subject to delisting from the Nasdaq National Market.

Tripath Technology Inc. previously disclosed in its 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 April 29, 2005, that on April 26, 2005 it had received a letter from 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.
 informing the Company that for the last thirty consecutive business days, the bid price of Tripath's common stock had closed below the minimum $1.00 per share requirement for continued inclusion set by Marketplace Rule 4450(b)(4), and that, in accordance with Marketplace Rule 4450(e)(2), the Company was being provided 180 calendar days, or until October 24, 2005, to regain compliance.

Tripath Technology Inc. is filing a request for a hearing before the Nasdaq Listing Qualifications Panel to appeal the Staff Determination Letter. At the hearing, Tripath Technology Inc. will also address its compliance with Marketplace Rule 4450(b)(4). The delisting process will be stayed, and the common stock of Tripath Technology Inc. will continue to be traded on the Nasdaq National Market until the panel makes a final decision. There can be no assurance that the panel will grant the Company's request for continued listing.

If the appeal of Tripath Technology Inc. is unsuccessful, the Company intends to apply to transfer the listing of its common stock to the Nasdaq SmallCap Market. Tripath Technology Inc.'s common stock will remain listed on the Nasdaq National Market while a listing application for the Nasdaq SmallCap Market is being reviewed. If Nasdaq approves the transfer to the Nasdaq SmallCap Market - and there can be no assurance that Nasdaq will do so - shares of Tripath Technology Inc. common stock would continue to be listed and traded under the existing ticker symbol Ticker Symbol

An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors
, TRPH.

About Tripath Technology

Based in San Jose, Calif., Tripath Technology Inc. is a fabless semiconductor company A fabless semiconductor company specializes in the design and sale of hardware devices implemented on semiconductor chips. It achieves an advantage by outsourcing the fabrication of the devices to a specialized semiconductor manufacturer called a semiconductor foundry or "fab.  that focuses on providing highly efficient power amplification to the digital media consumer electronics and communications markets. Tripath owns the patented technology called Digital Power Processing (DPP DPP - Dining Philosophers Problem (R)), which leverages modern advances in digital signal processing See DSP.

Digital Signal Processing - (DSP) Computer manipulation of analog signals (commonly sound or image) which have been converted to digital form (sampled).
 and power processing. Tripath markets audio amplifiers with DPP(R) under the brand name Class-T(R). Tripath's current customers include, but are not limited to, companies such as Alcatel, Alpine, Hitachi, JVC JVC Victor Company of Japan (or Japan's Victor Company)
JVC Jewelers Vigilance Committee
JVC Jesuit Volunteer Corps
JVC Jet Vane Control (directs VLS-launched missiles)
JVC Jonker-Volgenant-Castanon
, Sanyo, Sharp, Sony and Toshiba. For more information on Tripath please visit Tripath's web site at www.tripath.com.

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:

Certain statements in this release concerning Tripath's appeal of the Staff Determination Letter it received and, if the appeal is unsuccessful, its intent to transfer the listing of its common stock to the Nasdaq SmallCap Market are forward-looking statements that involve a number of risks and uncertainties. Actual events and results could differ materially from those stated or implied from the forward looking statements. The continued listing of Tripath's common stock on the Nasdaq National Market is dependent upon Tripath's successful appeal of the Staff Determination Letter and upon Tripath's ability to meet the Nasdaq National Market's listing standards. There can be no assurance that Tripath's appeal will be successful or that Tripath will be able to meet the Nasdaq National Market's listing standards. The possible listing of Tripath's common stock on the Nasdaq SmallCap Market is dependent upon Tripath's successful application to transfer to the Nasdaq SmallCap Market and upon Tripath's ability to meet the Nasdaq SmallCap Market's listing standards. There can be no assurance that Tripath's possible application to transfer to the Nasdaq SmallCap Market will be successful or that Tripath will be able to meet the Nasdaq SmallCap Market's listing standards. Further information regarding these and other risks and uncertainties is included in Tripath's 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 filings, in particular, Tripath's 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.
 and 10-K/T and quarterly reports on Form 10-Q Form 10-Q

See 10-Q.
. Tripath assumes no obligation and does not intend to update any forward-looking statements, whether as a result of new information, future events or otherwise.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 1, 2005
Words:779
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