Home / Knowledge / News / Fashion / Blue Holdings receives additional Nasdaq Staff Determination Letter

Blue Holdings receives additional Nasdaq Staff Determination Letter

29
May '08
Blue Holdings Inc a designer, manufacturer and distributor of high-end fashion jeans, announced that the Company received notification on May 21, 2008 of a Nasdaq staff determination that its common stock is subject to delisting from The Nasdaq Capital Market for failure to comply with Marketplace Rule 4310(c)(14), requiring the Company to file its Form 10-Q for the period ended March 31, 2008 by the filing deadline.

Accordingly, this matter serves as an additional basis for delisting the Company's securities from The Nasdaq Stock Market.

As previously announced, the Company received a Nasdaq Staff Determination Letter on May 14, 2008 indicating that the Company failed to comply with the minimum bid price and stockholders' equity requirements for continued listing set forth in Marketplace Rules 4310(c)(4) and 4310(c)(3)(A), respectively.

The Audit Committee of the Company's Board of Directors, comprised of independent directors, continues to review the previously announced potential accounting errors in the Company's financial statements for the year ended December 31, 2007 and certain of the quarters therein and is working with management to conclude the review as quickly as possible.

The impact of any potential restatement remains unknown at this time, and the Company will delay the filing of its 10-Q for the quarter ended March 31, 2008 until such time as the potential restatement matters are resolved.

The Company has requested a hearing before the Nasdaq Listing Qualifications Panel to appeal the staff determination. Pending completion of the appeal process, the stock will continue to be listed on The Nasdaq Capital Market.

The Company expects to file its delinquent 10-Q prior to the hearing. There can be no assurance that the Panel will grant the Company's request for continued listing.

Blue Holdings Inc


Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search