Qualstar Corporation Announces Plan to Delist from Nasdaq and Deregister Its Common Stock
QUALSTAR CORP (QBAK)
US:NASDAQ Investor Relations:
qualstar.com/ir-home.php
Company Research
Source: Business Wire
CAMARILLO, Calif.--(BUSINESS WIRE)--Qualstar Corporation (NASDAQ: QBAK), a leading manufacturer of data storage solutions and high-efficiency power supplies, today announced that it will voluntarily delist its common stock from The Nasdaq Stock Market and, based upon ownership of its shares by fewer than 300 holders of record, deregister its common stock under the Securities Exchange Act of 1934 and suspend its public reporting obligations.Steven N. Bronson, Qualstar’s CEO, stated, “To better position Qualstar to accelerate long-term profitable growth, we undertook a thorough and thoughtful review of our cost structure, including costs associated with being a Nasdaq listed and SEC reporting company. Our Board of Directors concluded that the benefits to the Company and its stockholders of continued Nasdaq listing and SEC reporting did not justify the costs of maintaining that listing and continuing to publicly report. We currently have a strong balance sheet with no debt, and do no
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