Advanced Imaging

AdvancedImagingPro.com

   

Industry News

Updated: July 8th, 2008 05:26 PM CDT

Precision Optics Corp. Announces Receipt of Notice From Nasdaq

Advertisement
via PRNewswire

GARDNER, Mass., Dec. 21 /PRNewswire-FirstCall/ -- Precision Optics Corporation, Inc. (Nasdaq: POCI) today announced receipt of a Nasdaq Staff Determination letter, dated December 15, 2005 , from The Nasdaq Stock Market("Nasdaq") indicating the Company's securities will be delisted from The Nasdaq Capital Market at the opening of business on December 27, 2005 . Nasdaq has determined that the Company is not in compliance with Nasdaq's requirements for continued listing as the Company's shareholders equity amount is below the minimum requirement of $2.5 million specified by Marketplace Rule4310(c)(2)(B). In addition, the Company's stock does not meet the $1.00 pershare minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4). The Company submitted a plan of compliance to Nasdaq Staff, however, Staff's determination was that the proposed plan lacked sufficient evidence of the ability to achieve near term compliance with continued listing requirements or sustain such compliance over an extended period of time. The Company has decided not to appeal Nasdaq's determination. Accordingly, the Company's securities will be delisted as provided in the Nasdaq Staff Determination letter.

We expect that our common stock will be quoted on the "Pink Sheets." The Company will also seek to have its common stock quoted on the Over-The-Counter Market on the NASD Electronic Bulletin Board (OTCBB). Information regarding the Company's stock and stock trading is expected to remain available via the Nasdaq website, through on-line trading services and through securities brokers under the symbol POCI.

About Precision Optics

Precision Optics Corporation, a leading developer and manufacturer of advanced optical instruments since 1982, designs and produces high-quality optical thin film coatings, medical instruments, and other advanced optical systems. The Company's medical instrumentation line includes laparoscopes, arthroscopes and endocouplers and a world-class product line of 3-D endoscopes for use in minimally invasive surgical procedures.

The Company is currently developing specialty instruments incorporating its patent-pending Lenslock(TM) technology which ensures lower cost, easier repairability and enhanced durability. The Company is aggressively pursuing ultra-small instruments (some with lenses less than one millimeter in diameter) utilizing patent pending micro-precision(TM) lens technology. The Company is also exploring new initiatives in single molecule technology andnanotechnology for biomedical and other applications.

Precision Optics Corporation is certified to the ISO 9001 Quality Standard, and complies with the FDA Good Manufacturing Practices and the European Union Medical Device Directive for CE Marking of its medical products. The Company's Internet Website is http://www.poci.com .

1 2 next

Subscribe to our RSS Feeds