logo
Share SHARE
FONT-SIZE Plus   Neg

Saba Receives Non-compliance Letter From Nasdaq - Quick Facts

Saba (SABA) announced that on April 11, 2012, it received from the Listing Qualifications Department of The Nasdaq Stock Market LLC notification of Saba's noncompliance with Nasdaq Listing Rule due to Saba's previously announced delay in filing its Form 10-Q for the period ended February 29, 2012.

The Nasdaq notification letter sets forth that the Company has 60 days to submit a plan to regain compliance. The company said it anticipates that it will file its Form 10-Q within the 60-day period and that it will fully regain compliance with the Nasdaq continued listing requirements upon such filing of its Form 10-Q.

In the event the Company is unable to file its Form 10-Q before the end of such 60-day period, the Company is required to submit to Nasdaq a plan to regain compliance with Nasdaq's continued listing requirements no later than June 11, 2012. If Nasdaq accepts the plan submitted by the Company, Nasdaq can grant an exception to regain compliance up to October 8, 2012, Saba said.

If Nasdaq does not accept the Company's plan, Nasdaq will provide notice that the Company's common stock will be subject to delisting.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The U.S. Food and Drug Administration Thursday announced it will start regulating all tobacco products, including e-cigarettes, cigars, hookah tobacco and pipe tobacco, just like it regulates cigarettes. Under the new rules, e-cigarettes manufacturers should receive marketing authorization from the... News Corp. (NWS, NWSA) on Thursday posted a loss for the third quarter, hurt largely by lower advertising revenue at news and information segment and a stronger dollar, partly offset by growth in the digital real estate business. The New York-based media company reported a third-quarter loss of $149... Action-sports camera maker GoPro Inc. (GPRO), Thursday posted a loss for the first quarter, as revenues nearly halved and margins dropped sharply reflecting weak demand for its wearable cameras. Loss for the quarter were higher than what Wall Street analysts estimated, but revenues trumped expectations. San...
comments powered by Disqus
Follow RTT