Qualstar Update
QUALSTAR CORP (QBAK)
US:NASDAQ Investor Relations:
qualstar.com/ir-home.php
Company Research
Source: Business Wire
CAMARILLO, Calif.--(BUSINESS WIRE)--Qualstar letter to shareholders from CEO, Steven Bronson:April 13, 2020Dear Fellow Qualstar Shareholders,We recently announced on Thursday, April 9, 2020, that our Board of Directors determined to delist our shares from trading on the Nasdaq Stock Market and cease to file periodic reports with the SEC. Our Board concluded that the benefits to the Company and its Stockholders of continuing our listing on the Nasdaq and SEC reporting did not justify the costs. This decision was not taken lightly, and we weighed all the factors in determining the best course of action.We have determined that our expected cost savings will be approximately $300,000 per year. The majority of these savings will be derived from reducing and eliminating costs, including Nasdaq listing fees, professional fees including legal and audit, and a reduction of board fees.Based on our closing stock price of $2.46 as of Thursday, April 9, 2020, our stock is trading at a slight p
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