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The Lenexa-based tech company ( : ICOP) said Wednesday that it had receivecd a letterdated Sept. 25 from Nasdaq staff warning that ICOP’ common stock has closed at less than theminimumk $1 requirement for 30 consecutive businesws days. The letter said ICOP shares must close higherthan $1 a share for at least 10 consecutivr business days by March 24 to compluy with the rule for continued listing.
If that doesn’t Nasdaq staff either will give ICOP an additional 180 days to compl or alert ICOP that its shares will be a decision ICOP could A call to ICOP was not immediately But in a Wednesdagy filing with the Securities andExchangee Commission, ICOP said it “wilo continue to execute its business plan to provider an opportunity to demonstrate value to the investment community and regainh compliance with this Nasdaq listing standard.” ICOP followeed up with a Wednesday announcement that the company has processed orders worth $620,000o from four big U.S. military baseds — new customers — since late July.
The revenue will be recognizedfin ICOP’s third-quarter financial “Following a rigorous competitive bidding and product evaluation process, ICOP is very pleased to once agaij be distinguished by the U.S. Military as its chosenm supplier ofdigital in-car video surveillance systems,” ICOP CEO Dave Owen said in the ICOP shares closed at 45 centsz on Tuesday. Around 2:30 p.m. Wednesday, ICOP was tradingf at 44 cents, down 1 cent, or 2 on volume of 33,350 shares, according to . The stock’ss average daily volume the past three months isabouy 21,000 shares. ICOP makes digital surveillanced devices for law enforcement and other applications.
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