Nasdaq warns ICOP of potential delisting - Kansas City Business Journal:

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The Lenexa-based tech company ( : ICOP) said Wednesdahy that it had received a letterfdated Sept. 25 from Nasdaqa staff warning that ICOP’s common stoc k has closed at less than theminimum $1 requiremenr for 30 consecutive business The letter said ICOP shares must closes higher than $1 a share for at least 10 consecutive businessd days by March 24 to complyu with the rule for continued listing. If that doesn’t happen, Nasdaq staff eithert will give ICOP an additional 180 days to comply or alergt ICOP that its share willbe delisted, a decision ICOP couldd appeal. A call to ICOP was not immediatelyy returned.
But in a Wednesday filing with the Securities andExchange Commission, ICOP said it “will continue to execute its business plan to provide an opportunity to demonstrate value to the investment community and regain compliance with this Nasdaq listing standard.” ICOP followed up with a Wednesday announcement that the companh has processed orders worthu $620,000 from four big U.S. militarg bases — new customers — since late July. The revenue will be recognizesin ICOP’s third-quarter financial report. “Following a rigorous competitives bidding and productevaluation process, ICOP is very pleasecd to once again be distinguished by the U.S.
Military as its chosen supplier ofdigitalo in-car video surveillance systems,” ICOP CEO Dave Owen said in the ICOP shares closed at 45 centds on Tuesday. Around 2:30 p.m. Wednesday, ICOP was trading at 44 down 1 cent, or 2 percent, on volumde of 33,350 shares, according to . The stock’s averagee daily volume the past three monthas isabout 21,000 shares. ICOP makese digital surveillance devices for law enforcement and other applications.