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14 December 2007


Nasdaq extends Kopin deadline to 11 February

The Nasdaq Stock Market has extended the deadline from 17 December to 11 February for Kopin Corp of Taunton, MA, USA to file all delayed periodic reports with the US Securities and Exchange Commission, necessary to regain compliance with Nasdaq Marketplace Rule 4310(c)(14).

Kopin, which makes heterojunction bipolar transistors (HBTs) and liquid-crystal CyberDisplays, has previously received Nasdaq notifications for failing to file its Q3/2006 Form 10-Q, 2006 Form 10-K, and Q1, Q2 and Q3/2007 Form 10-Q financial reports. The delays are due to an investigation into the firm’s past stock option granting practices and related accounting by a special investigative committee (appointed by Kopin’s board).

In May, the committee issued preliminary findings and recommendations that financial statements for 1995 through 2006 (and the related interim periods) should not be relied upon and should be restated. Kopin says that it is working to complete any necessary restatements.

However, if Kopin has not regained compliance by 4 February, the Nasdaq board will instruct its staff to discuss the reason with the firm and to update it on whether they believe Kopin’s stock should remain listed.

See related items:

Kopin expects WiMAX to revive its HBT sales in 2008

Kopin receives Nasdaq notice after delay in filing Q3 report

Kopin granted until 17 December to regain Nasdaq compliance

Nasdaq board stays Kopin delisting

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