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Hauppauge Digital gets Nasdaq delist warning
Hauppauge Digital Inc., a company that makes computer and television parts, received a letter from the Nasdaq stock market that it has failed to meet requirements to be listed on the exchange, the company said Monday.
The letter notified Hauppauge Digital that the company had failed to comply with the rule that it must maintain shareholder's equity -- a measure of the company's assets minus its liabilities -- of $2.5 million. As of Sept. 30 this past year, the company had shareholder equity of about $1.9 million.
A company spokesman, Jerry Tucciarone, said the company is currently evaluating its options, and declined to comment further.
According to the Nasdaq letter, the company will have 45 days from Jan. 3 -- when the letter was received -- to submit a plan to the exchange on how it will work to become compliant again.
Hauppauge Digital currently trades around 95 cents a share, with a stock market value of $9.6 million. In morning trading Tuesday, it was down 2 cents at 95 cents.
Last week, the company said in an earnings report that it had lost $1.6 million in sales in the quarter ending Sept 30, compared to the same period in 2011.