NASDAQ: KOPN $ 1.38 -0.07( -4.83%) Volume: 301,159 December 18, 2018 20 min delay

Kopin Corporation Granted Stay of Delisting by Nasdaq


TAUNTON, Mass.--(BUSINESS WIRE)--Feb. 26, 2007--Kopin Corporation (NASDAQ: KOPN) today announced that the Nasdaq Listing Qualifications Panel has determined to stay the delisting of the Company's common stock on The Nasdaq Stock Market, subject to certain conditions.

As previously announced, a special committee appointed by Kopin's Board of Directors, assisted by independent legal and accounting experts, has been conducting an internal review of the Company's historical stock option grant practices. Because of the ongoing review, the Company has been unable to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2006. As a result of its filing delinquency, Kopin received notification that its shares would be delisted unless the Company requested a hearing before the Nasdaq Listing Qualifications Panel. The hearing was requested November 21, 2006 and held January 18, 2007.

The Nasdaq Listing Qualifications Panel determined to stay the delisting of the Company's common stock on The Nasdaq Stock Market on the condition that:

-- By April 11, 2007, the Company provides the Nasdaq Hearings Department with the special committee's final investigatory report, which must provide answers to a series of questions about the committee's investigation. In lieu of the final report, the Company must provide the Hearings Department with specific written responses to such questions; and

-- Kopin becomes current in its delinquent periodic reports, and files any required restatements, by May 14, 2007. If Kopin is unable to meet this deadline, the Panel will suspend trading of the Company's common stock effective May 15, 2007, unless the Nasdaq Listing Council elects to review the case and stay the delisting.

About Kopin

Kopin Corporation produces lightweight, power-efficient, ultra-small liquid crystal displays and heterojunction bipolar transistors (HBTs) that are revolutionizing the way people around the world see, hear and communicate. Kopin already has shipped more than 20 million displays for a range of consumer and military applications including digital cameras, personal video eyewear, camcorders, thermal weapon sights and night vision systems. The Company's unique HBTs, which help to enhance battery life, talk time and signal clarity, have been integrated into billions of wireless handsets as well as into WiFi, VoIP and high-speed Internet data transmission systems. Kopin's proprietary display and HBT technologies are protected by more than 200 global patents and patents pending. For more information, please visit Kopin's website at

CyberDisplay and The NanoSemiconductor Company are trademarks of Kopin Corporation.

Kopin - The NanoSemiconductor Company(TM)

Safe Harbor Statement

Statements in this news release may be considered "forward-looking" statements under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These include statements relating to the conditions set forth by the Nasdaq Listing Qualifications Panel. These statements involve a number of risks and uncertainties that could materially affect future results. These risk factors include, but are not limited to: the timing and outcome of the special committee's review of Kopin's past stock option practices; the potential that Kopin will be unable to provide a copy of the final investigatory report or written responses to the panel's questions by April 11, 2007; the potential that the Company will not be current in its delinquent periodic reports and file any required restatements by May 14, 2007; the potential that the Company will not satisfy any other conditions required by the Listing Qualifications Panel; and other risk factors and cautionary statements listed in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission. These include, but are not limited to, the Company's Quarterly Report on Form 10-Q for the three-month period ended July 1, 2006 and Annual Report on Form 10-K for the year ended December 31, 2005.

CONTACT: Kopin Corporation Richard Sneider, 508-824-6696 Chief Financial Officer or Sharon Merrill Associates, Inc. Scott Solomon, 617-542-5300 Vice President SOURCE: Kopin Corporation