The Staff Determination states that historically, the Panel has generally
viewed a reverse stock split in 30 to 60 days as the only definitive plan
acceptable to resolve a bid price deficiency, but that the Panel could allow
up to 180 calendar days from the date of the Staff Determination if the Panel
deems it appropriate. The Company has already filed a preliminary proxy
statement with the Securities and Exchange Commission on
Irvine Sensors Corporation (http://www.irvine-sensors.com), headquartered
in
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company's current expectations, estimates and projections about the Company, management's beliefs, and certain assumptions made by the Company, and events beyond the Company's control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating the approval of a reverse stock split by the Company's stockholders and the Company's ability to regain compliance with Nasdaq listing requirements within the time period specified above. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "likely," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results or the commitments made by the Company herein, and they are subject to risks, uncertainties and assumptions that could cause actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include, but are not limited to, the ability of the Company to file a definitive proxy statement and hold its Annual Meeting of Stockholders in a timely manner, the possibility that the Company's stockholders will not approve a reverse stock split, the possibility that the Company's plan for regaining compliance with Nasdaq listing requirements will not be satisfactory to the Nasdaq Panel and/or that the Nasdaq Panel will not grant the Company's request, the Company's stock price could decline further, and such other factors described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.
SOURCE Irvine Sensors Corporation