Napco delays its filing with the SEC
AMITYVILLE, N.Y. - Officials at Napco Security hope to be in compliance with Nasdaq filing requirements before the end of the year after it had to delay filing its 10-K for its fiscal year ending June 30, 2003 with the Securities and Exchange Commission due to international tax issues related to its Dominican Republic subsidiary.
As a result of the filing delay, Napco has been notifed by Nasdaq its common stock could face delisting on its stock exchange. Napco officials have requested a hearing to review the staff determination, which automatically stays delisting proceedings.
As a result of the notification by Nasdaq, NapcoÃ¢â‚¬â„¢s stock ticker changed from NSSC to NSSCE for the duration of the filing delinquency.
Though company officials say they hope to resolve the issue in a matter of weeks, they could not guarantee that will be the case.