Focus Enhancements, Inc. (NASDAQ:FCSE) a worldwide leader in Ultra Wideband (UWB) wireless technology, video conversion and digital media products, today received a staff determination letter from the NASDAQ Stock Market Inc. stating the company's common stock is subject to delisting from the NASDAQ Capital Market for not meeting the market value of publicly held shares requirement for continued listing.
Focus Enhancements will submit a request by July 28, 2008 for a hearing with the NASDAQ Listing Qualifications Panel. This request will stay the delisting of the company's securities pending the hearing and determination by the panel. During this stay, the company's securities will continue to trade under the ticker symbol "FCSE" on the NASDAQ board. There can be no assurance that the panel will grant the company's request for continued listing.Our take:
Oh how the mighty have fallen. While Focus Enhancements (which purchased Visual Circuits a few years back) at one point controlled a pretty sizable chunk of the market we today call "digital signage", today they have little more than a set of niche product offerings and some additional offerings in various areas of wireless data transmission. From what we recall, NASDAQ threatens to delist you after your company has traded at less than $1 for a solid month. Considering that Focus has been slogging along at well below that for a while, we're not optimistic about their ability to bring themselves back up above the magic $1 level before they get relegated to a smaller exchange.