Agile receives additional Nasdaq notice
Dec 20, 2006
Agile Software Corporation announced that it has received a Staff Determination letter from The NASDAQ Stock Market, dated December 13, 2006, stating that Nasdaq has not received the Company's Form 10-Q for the period ended October 31, 2006, as required by the Marketplace Rules.
Accordingly, the letter states that the failure to timely file the Form 10-Q serves as an additional basis for delisting the Company's securities from The NASDAQ Global Market based upon Marketplace Rule 4310(c)(14).
The NASDAQ Stock Market previously determined that Agile had until January 8, 2007 to become compliant with its filing obligations under the Securities Exchange Act of 1934, in order to avoid possible delisting. The Company is unable to timely make such filings until the previously announced review of its stock option practices is completed and it determines the amount, and applicable periods, of the non-cash, pre-tax charges for stock- based compensation expense that it must recognize. The review is substantially complete, and Agile is in the process of making that determination.