Radiation oncology firm Impac Medical Systems of Mountain View, CA, has received notice from the Nasdaq stock market that its shares could be delisted from the exchange by September 2.
Impac said that Nasdaq had issued a "staff determination" that Impac shares were subject to delisting because of the company's failure to file its 10-Q quarterly financial report. The report was due on August 16. Impac said it would appeal the determination before a Nasdaq panel.
Impac earlier this month said that it would be unable to file its financial statements for the third quarter of 2004 (end-June 30) after its auditor resigned due to a disagreement over the timing of company revenues. The company previously announced in February that it may have incorrectly booked revenue in some financial quarters that should have been recognized in later periods.
By AuntMinnie.com staff writers
August 26, 2004
Related Reading
Impac to review financial statements, February 6, 2004
Impac signs M.D. Anderson, July 25, 2003
Impac establishes Philips relationship, March 12, 2003
Impac renews Siemens relationship, April 24, 2002
Threatened U.S. challenge kills Impac/Varian merger, November 8, 2000
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