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Nasdaq notifies Logic Devices on stockholders' equity

Posted: 03 Jan 2006     Print Version  Bookmark and Share

Keywords:Logic Devices  Nasdaq 

Logic Devices Inc. announced that they have received a written notification from Nasdaq that its stockholders' equity as of Sept. 30, 2005 was Rs.42.39 crores ($9.238 million). This is below the required minimum Rs.45.89 crores ($10 million) stockholders' equity for continued listing on The Nasdaq National Market set forth in Marketplace Rule 4450(a)(3).

Nasdaq indicated that Logic Devices, a supplier of high-speed digital ICs that perform high density storage and signal/image processing functions, has until Jan. 11, 2006 to submit a specific plan to achieve and sustain compliance with all The Nasdaq National Market's continued listing standards, including the stockholders' equity standard, or to apply for transfer to The Nasdaq Capital Market.

After reviewing The Nasdaq National Market continued listing standards and the implications of transferring to The Nasdaq Capital Market, Logic Devices has begun the application process to transfer the listing of its shares to The Nasdaq Capital Market.

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