This isn’t good news for fans of Alvarez, Ampeg, Crate, EAW, Mackie, Martin Audio and TAPCO gear.
LOUD Technologies today announced that it received a notice from the Nasdaq Stock Market indicating that the Company is not in compliance with the requirements for continued listing under Nasdaq Marketplace Rule 4310(c)(14), because it did not file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 (the “Form 10-Q”) by the prescribed due date (the “Nasdaq letter”).
The Nasdaq letter indicated that the Company has until January 20, 2009 to submit a plan to regain compliance.
LOUD’s Chief Financial Officer quit earlier in the year, after just a year, and LOUD recently announced it would cut its staff by 18 percent – about 90 employees.
It doesn’t look good for LOUD.