Koss Receives Notice of Non-Compliance With Nasdaq Continued Listing Requirements

Wed. September 16, 2009; Posted: 05:15 PM

Look up the PowerRating of KOSS and see how it has performed over the past week as well as the current proprietary PowerRating.

MILWAUKEE, WI, Sep 16, 2009 (MARKETWIRE via COMTEX) -- KOSS | Quote | Chart | News | PowerRating -- Koss Corporation (NASDAQ: KOSS | Quote | Chart | News | PowerRating) received notice from the Nasdaq Stock Market ("Nasdaq") that it no longer meets the minimum 750,000 publicly held shares requirement for The Nasdaq Global Market under Listing Rule 5450(b)(1)(B). Based on Koss's definitive proxy statement filed with the Securities and Exchange Commission on September 4, 2009, Nasdaq's staff calculated the number of Koss's publicly held shares as 688,896. For purposes of the listing requirement, publicly held shares means total shares outstanding less any shares held by officers, directors, or beneficial owners of 10 percent or more.

Under Nasdaq's listing rules, Koss has 15 calendar days to submit a plan to Nasdaq to regain compliance. If the compliance plan is accepted, Nasdaq can grant an extension of up to 105 calendar days for Koss to evidence compliance. If the compliance plan is not accepted, Koss will have the opportunity to appeal that decision to Nasdaq's Listing Qualifications panel.

Koss is currently considering actions that will allow it to regain compliance with the Nasdaq continued listing standards and maintain its Nasdaq listing. There is no assurance that Koss will be able to take any of these actions or that any of the actions will be sufficient to allow Koss's Nasdaq listing to continue or for how long such listing will continue. If Koss is unsuccessful in maintaining its Nasdaq listing, then Koss may pursue listing and trading of Koss's common stock on the Over-The-Counter Bulletin Board or another securities exchange or association with different listing standards than Nasdaq.

CONTACT:
Michael J. Koss
President & CEO
(414) 964-5000
Email Contact

SOURCE: Koss Corporation

http://www2.marketwire.com/mw/emailprcntct?id=45581F55A4199B6A

For full details for KOSS click here.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.