BRIEF: Koss Corp. warned it could be delisted from Nasdaq

Wed. September 16, 2009; Posted: 10:06 PM

Sep 16, 2009 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) -- KOSS | Quote | Chart | News | PowerRating -- Koss Corp. said Wednesday that it has received notice from the Nasdaq Stock Market that it no longer meets the minimum 750,000 publicly held shares requirement for The Nasdaq Global Market. Nasdaq's staff calculated the number of Koss's publicly held shares as 688,896, based on the company's proxy statement filed Sept. 4.

Under Nasdaq's listing rules, Koss has 15 calendar days to submit a plan to Nasdaq to regain compliance.

"Koss is currently considering actions that will allow it to regain compliance with the Nasdaq continued listing standards and maintain its Nasdaq listing," the company statement said.

"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."

Prior to the announcement, Koss shares closed at $12.03, down 89 cents, on trading volume of 100 shares. Average daily trading volume so far this year is about 800 shares.

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