Qualstar Corporation (NASDAQ: QBAK), a manufacturer of data security and
archive storage solutions and high efficiency power supplies, received
notification from Nasdaq for not maintaining a minimum of $10,000,000 in
stockholders’ equity based on our 10-Q for the period ended March 31,
2014. Qualstar stockholders’ equity as of March 31, 2014 was $9,791,000.
Qualstar has the option to either submit a plan to regain compliance
within 45 days, or, file a transfer application to list the Company’s
securities to The Nasdaq Capital market. Qualstar is currently exploring
its options.
About Qualstar Corporation
Qualstar, founded in 1984, is a diversified electronics manufacturer
specializing in data storage and power supplies. Qualstar's products are
known throughout the world for high quality and Simply Reliable™
designs that provide years of trouble-free service. More information is
available at www.qualstar.com
or by phone at 805-583-7744.
FORWARD LOOKING STATEMENTS: This press release contains
forward-looking statements relating to expectations, plans or prospects
for Qualstar Corporation that are based upon the current expectations
and beliefs of Qualstar's management and are subject to certain risks
and uncertainties that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements.
Notwithstanding changes that may occur with respect to matters relating
to any forward looking statements, Qualstar does not expect to, and
disclaims any obligation to, publicly update any forward-looking
statements whether as a result of new information, future events or
otherwise. Qualstar, however, reserves the right to update such
statements or any portion thereof at any time for any reason. In
particular, the following factors, among others, could cause actual or
future results to differ materially from those suggested by the
forward-looking statements: Qualstar's ability to successfully execute
on its strategic plan and meet its long-term financial goals; Qualstar's
ability to successfully implement and recognize cost savings; Qualstar's
ability to develop and commercialize new products; industry and customer
adoption and acceptance of Qualstar's new products; Qualstar's ability
to increase sales of its products; the rescheduling or cancellation of
customer orders; unexpected shortages of critical components; unexpected
product design or quality problems; adverse changes in market demand for
Qualstar's products; increased global competition and pricing pressure
on Qualstar's products; and the risks related to actions of activist
shareholders, including the amount of related costs.
For further information on these and other and other cautionary
statements, please refer to the risk factors discussed in Qualstar's
filings with the U.S. Securities and Exchange Commission including, but
not limited to, Qualstar's Annual Report on Form 10-K for the fiscal
year ended June 30, 2013, the "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of such Form
10-K, and any subsequently filed reports. All documents also are
available without charge through the SEC's website (www.sec.gov)
or from Qualstar's website (www.qualstar.com).
Copyright Business Wire 2014