Loral Regains Nasdaq Compliance
[Satellite Today – 5-2-08] Loral Space and Communications has regained compliance with the Nasdaq Stock Market Inc. and no longer is in danger of being delisted, Loral announced May 1.
Loral was not able to file its 2007 Form 10-K, which provides an overview of the company’s business and financial condition and includes audited financial statements, because of income tax accounting complexities arising from the Telesat merger. The company was notified April 14 that it no longer satisfied Nasdaq’s filing requirements and was subject to delisting.
According to Nasdaq, delisting can make it more difficult for a company to raise money and can sometimes be a first step towards bankruptcy.