Spire Corp. (Bedford, MA), which provides products and services based upon a common technology platform to the solar energy and biomedical industries, announced that Nasdaq has determined to continue the listing of the company's shares of common stock on the Nasdaq National Market if the company meets the following deadlines.
On or before November 7, 2003, the company must file with the SEC and Nasdaq an amended Form 10-QSB for the quarter ended June 30, 2003, that has been reviewed by its independent auditors in accordance with SAS 100. On or before November 14, 2003, the company must file with the SEC and Nasdaq its Form 10-QSB for the quarter ended September 30, 2003. The company is working with its auditors to satisfy the above conditions for continued listing, however, there can be no assurance that the company will be able to meet the above conditions.
The company may request an extension on the applicable deadlines from a Nasdaq Listing Qualifications Panel. There can be no assurance, however, that Nasdaq will grant any such extension or, if one is granted, that the company will be able to meet any new deadlines imposed by Nasdaq. If the company is delisted from the Nasdaq National Market, its common stock would likely be traded on the Over-The-Counter Bulletin Board.
