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| ENPT > SEC Filings for ENPT > Form 8-K on 9-Jan-2009 | All Recent SEC Filings |
9-Jan-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
On January 5, 2009, En Pointe Technologies, Inc. (the "Company") received a notice from the Nasdaq Stock Market ("Nasdaq") indicating that the Company is not in compliance with Nasdaq Marketplace Rule 4310(c)(14) because it did not file in its Annual Report on Form 10-K (the "Periodic Report") for the year ended September 30, 2008 a completed management report on internal controls over financial reporting. As was stated in the Company's recently filed Form 10-K, the Company was unable to complete the evaluation of its financial and information technology controls due to limited resources.The Nasdaq letter indicated that the Company has until March 6, 2009 to submit a plan to regain compliance with Nasdaq Marketplace Rule 4310(c)(14), and that if such a plan is timely submitted by the Company, following a review of this plan, the Nasdaq staff may provide a delisting notice to the Company or grant the Company an exception of up to 180 calendar days from the due date of the Periodic Report, or June 29, 2009, to regain compliance.
The Company is currently seeking to develop a compliance plan to be submitted to Nasdaq. However, there can be no assurance that any such plan will be developed by the Company or accepted by Nasdaq. Prior to Nasdaq's determination, the Company's common stock will continue to be listed on the Nasdaq Capital Market; however, an indicator will be broadcast over Nasdaq's market data dissemination network noting the Company's non-compliance. The indicator will be displayed with quotation information related to the Company's securities on Nasdaq.com, NasdaqTrader.com and by other third-party providers of market data information.
A copy of the Company's press release is attached as Exhibit 99.1 hereto and is incorporated by reference.
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