hauppauge digital inc (HAUP) Key Developments
Hauppauge Digital Determines Not To Request A Review Of The NASDAQ Hearings Panel's Decision
Nov 21 13
On November 14, 2013, Hauppauge Digital Inc. received a letter (the “November Letter”) from NASDAQ stating that the NASDAQ Hearings Panel (the “Panel”) has determined to delist the shares of the Company from The NASDAQ Capital Markets, effective at the open of business on Monday, November 18, 2013, and that the Company may request that the NASDAQ Listing and Hearing Review Council review the Panel’s decision by written request for review, with such request to be received within 15 days from the date of the November Letter. The Company has determined not to request a review of the Panel’s decision. The Company’s common stock is now trading on the OTCQB Market under the same name and trading symbol “HAUP”.
Hauppauge Digital Inc. Approves the Amendments to the Certificate of Incorporation
Nov 21 13
Hauppauge Digital Inc. announced that at its AGM held on November 15, 2013, the shareholders approved the amendments to the company’s Certificate of Incorporation to authorize a class of preferred stock was not authorized and approved by the stockholders.
Hauppauge Digital Inc.(NasdaqCM:HAUP) dropped from NASDAQ Composite Index
Nov 17 13
Hauppauge Digital Inc. will be removed from NASDAQ Composite Index.
Hauppauge Digital Receives Non-Compliance Notice From NASDAQ
Nov 14 13
On November 14, 2013, Hauppauge Digital Inc. received a letter from NASDAQ stating that the NASDAQ Hearings Panel has determined to delist the shares of the Company from The NASDAQ Capital Markets, effective at the open of business on November 18, 2013. Pursuant to earlier Panel decisions in this matter, which the Company has previously reported, the Company’s listing was continued subject to several conditions including, among others, the following which were noted in the November Letter: The Company was to inform the Panel that it had closed a proposed financing and that the resulting proceeds brought stockholders’ equity to above $2.5 million by September 30, 2013, which was extended to November 4, 2013, which the Company subsequently proposed be extended to November 11, 2013. The Company was to have provided to NASDAQ by September 30, 2013 updated financial projections demonstrating that in each of the quarterly reports that the Company will file between September 30, 2013 and September 30, 2014, it would evidence stockholders’ equity above $2.5 million. The Company was also to have filed by September 30, 2013 its proxy for an annual meeting, to include a proposal for a reverse stock split in a ratio sufficient for the stock to trade above $1.00. The Company filed its definitive proxy statement for its annual meeting on October 15, 2013. The Company did not close a Financing by the date it had proposed. NASDAQ advised the Company that based on the Company missing the targeted deadlines and information provided by the Company, NASDAQ concluded that the Company would not be able to sustain compliance with the NASDAQ Capital Market equity listing maintenance requirement over the coming year even if it closed a Financing, and that the Company had not demonstrated its suitability for continued listing to the Panel. For these reasons the Panel determined to delist the Company’s shares. The Company may request that the NASDAQ Listing and Hearing Review Council review the Panel’s decision by written request for review, with such request to be received within 15 days from the date of the November Letter. A request for a hearing would not stay the delisting. At this time, the Company has not made a determination as to whether it is going to request a review of the Panel’s decision.
Hauppauge Launches HD PVR Rocket
Oct 31 13
Hauppauge Digital Inc. is launching its latest video recorder, HD PVR Rocket, at Paris Games Week in Paris, booth 3H59. HD PVR Rocket records video game play from PlayStation, Xbox and PC gaming systems in high definition up to 1080p. The HD PVR Rocket is the ultimate portable video recorder: it is small enough to fit in hand and weighs just 4.6 oz (130 grams). The HD PVR Rocket has a built-in audio mixer and has a USB port where a gamer can plug a USB thumb drive to record game play. A 16 Gbyte USB thumb drive, when plugged into the HD PVR Rocket, can record 4 hours of video game play at an HD resolution of 1080p. The HD PVR Rocket follows the HD PVR 2, which was introduced in September 2012. While being the highest quality video game recorder on the market, the HD PVR 2 requires a PC or Mac to store video recordings. However, the all new HD PVR Rocket is standalone and does not require a PC for making recordings. The HD PVR Rocket also has a built-in audio mixer so that gamers can record game commentary along with game audio. Game commentary is used by professional gamers to describe their game moves and strategies, and is one of the most widely used features in high definition video game recorders. A microphone can be plugged into the microphone jack mounted on the front of the HD PVR Rocket, and the built-in audio mixer will record game audio and game commentary. HD PVR Rocket has a control panel which allows gamers to adjust the volume of the microphone. Once game play is recorded, Hauppauge provides a Windows application called Hauppauge Capture which can be used to upload video game play to YouTube. This application allows users to select their videos and upload them to their YouTube channel. Users can create YouTube channels and record and post their best game moves with game commentary using the HD PVR Rocket. The recordings made by the HD PVR Rocket are also compatible with a Mac for editing in iMovie and uploading to YouTube. Any game system which uses either HDMI video without HDCP or uses component video can be recorded with HD PVR Rocket, including the Xbox 360 and Xbox One, PlayStation3, WiiU and PC based game systems. Sony has recently announced that the PlayStation4, their new game console which will ship in 2013, will also support game play recording through the HDMI port. HD PVR Rocket will be available at major retailers throughout Europe starting November 15. The suggested retail price is EUR 169. It will also be available at Best Buy and other North American retailers starting November 15 at a suggested retail price of $169.00.