Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

OCZ Technology Group Inc. : OCZ Technology Receives Extension to Regain Compliance With NASDAQ Listing Requirements

12/20/2012 | 09:07am US/Eastern

SAN JOSE, CA -- (MARKETWIRE) -- 12/20/12 -- OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that the Nasdaq Stock Market ("Nasdaq") has accepted the Company's plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule") which will permit the continued listing of the Company's stock on the Nasdaq Capital Markets.

On December 17, 2012, the Company submitted to Nasdaq a plan to regain compliance with the Rule. After reviewing the Company's plan to regain compliance, Nasdaq granted an exception to enable the Company to regain compliance with the Rule. Under the terms of the exception, on or before February 28, 2013, the Company must file its 10-Q for the period ended August 31, 2012 and all other delinquent periodic reports, as required by the Rule.

About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ) is a global leader in the design, manufacturing, and distribution of high-performance solid-state storage solutions and premium computer components. Offering a complete spectrum of solid-state drives (SSDs), OCZ provides SSDs in a variety of form factors and interfaces (i.e. PCIe, SAS and SATA) to address a wide range of client and enterprise applications. Having developed firmware and controller platforms, to virtualization and endurance extending technologies, the Company delivers vertically integrated solutions enabling transformational approaches to how digital data is captured, stored, accessed, analyzed and leveraged by customers. For more information, please visit: www.ocztechnology.com.

Forward Looking Statements
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "would," "expect," "anticipate," "should" or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, the risk that additional information may arise from the oversight of the Audit Committee; the risk that the process of preparing and auditing the financial statements or other subsequent events would require OCZ to make additional adjustments; the time and effort required to complete the restatement of the financial reports; the ramifications of OCZ's potential inability to timely file required reports; including potential delisting of OCZ's common stock on NASDAQ; the risk of litigation or governmental investigations or proceedings relating to such matters; the risk that OCZ may not be able to successfully negotiate an amendment to its credit facility; market acceptance of OCZ's products and OCZ's ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ's ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; and OCZ's ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in "Item 1A -- Risk Factors" in Part I in OCZ's Annual Report on Form 10-K filed with the SEC on May 14, 2012, and statements made in other subsequent filings. The filing is available both at www.sec.gov as well as via OCZ's website at www.ocztechnology.com. OCZ does not undertake to update its forward-looking statements.

All trademarks or brand names referred to herein are the property of their respective owners.

Investor Contact:
Bonnie Mott
Senior Manager of Investor Relations
(408) 440-3428
bmott@ocztechnology.com

Press Contact:
Scott Harlin
Director of Marketing Communications - Enterprise
(408) 733-8400
sharlin@ocztechnology.com

distributed by
React to this article
Latest news
Date Title
03:21p PERCEPTRON IN : MI : Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits (form 8-K)
03:21p Study Findings from AstraZeneca Provide New Insights into Solid Cancer (A phase I trial of vertical inhibition of IGF signalling using cixutumumab,...
03:21p POPULAR : Declares Dividends on Preferred Stock, Announces Distribution on Trust Preferred Securities
03:20p Studies from L.M. Strambini and Co-Researchers Yield New Data on Biosensing (Self-powered microneedle-based biosensors for pain-free high-accuracy...
03:20p RENEWABLE ENERGY : Study Data from Sharif University of Technology Provide New Insights into Renewable Energy (Development of a reduced order model for nonlinear...
03:19p CATERPILLAR : Researchers Submit Patent Application, "Hydraulic System for Machine", for Approval
03:19p Shiseido Teams with IBM to Empower Its Beauty Consultants with Mobile Apps That Change the Way They Work
03:19p DONGBU HITEK : Patent Issued for Image Sensor and Methods of Driving and Fabricating the Same
03:19p ASICS : Patent Issued for Shoe Having Lace Fitting Structure
03:19p IMATION : Patent Issued for Solid-State Mass Data Storage Device
Latest news
Advertisement
Hot News 
COALFIELD RESOURCES : Coalfields ready to rebrand as it buys Harworth
INFOSONICS : Results of Operations and Financial Condition, Financial Statements and Exhibits (form 8-K)
HAVELOCK EUROPA : Change of Adviser
Ahead of the Bell: Bob Evans Farms (Ahead of Bell)
CAPITAL & REGIONAL : Shares Up On Higher Profit, 46% Dividend Hike
Most Read News
06:33a LONDON STOCK EXCHANGE : Court upholds British challenge to ECB policy on clearing houses
03/03 VOLVO : Telematics world taking off for the trucking industry
03/03 ECOPETROL : Earnings Distribution Proposal for Fiscal Year 2014
03/03 TRACE ONE : and SGS launch SGS Supply Chain powered by T Transparency
02:46p Wall Street lower for second day; healthcare is sole gainer
Most recommended articles
03:19p Cypriot president bids to take part in ECB's QE programme
03:04pDJFed's George Wants Rate Increases by Middle of the Year -- Update
03:02pDJOverride of Obama's Keystone Veto Fails in Senate
03:01pDJU.S. Stocks Fall For Second Straight Session
02:57pDJCURRENCIES : U.S. Dollar Hits 11-year High Against Euro
Dynamic quotes  
ON
| OFF