OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, today announced that as a result of the ongoing restatement process, the Company will not meet the previously disclosed September 16, 2013 NASDAQ extension date for becoming current with its filings with the Securities and Exchange Commission. The Company notified the NASDAQ Listing Qualifications Panel (the "NASDAQ Panel") of this delay. On September 12, 2013, the NASDAQ Panel granted the Company's request to remain listed on The NASDAQ Stock Market, subject to the condition that the Company becomes current in the filings of its periodic reports with the Securities and Exchange Commission by October 7, 2013.
"We are delighted that NASDAQ has given us this extension as it gives us the additional time we need to complete the restatement. The Company has been working to complete the comprehensive audit and restatement work that was expanded to cover three additional years, subsequent to the issuance of the NASDAQ Panel's hearing decision," stated Ralph Schmitt, CEO of OCZ Technology. "We have completed most of the work required to regain compliance and the team is diligently driving this to closure."
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