Feb 29 (Reuters) - Hoku Corp said it received a notice from the Nasdaq for non-compliance as it delayed reporting its quarterly financial results for the period ended Dec. 31.
But, the notification will have no immediate effect on the company’s listing on the exchange, the solar raw materials provider said in a statement on Wednesday.
The company’s quarterly results were delayed as it is analyzing if the carrying value at its polysilicon plant was stated in accordance with Generally Accepted Accounting Principles.
Hoku, which got the Nasdaq notice on Feb. 23, has to submit a plan by April 23 to regain compliance.
Shares of the company closed down 5 percent at 76 cents on Wednesday on the Nasdaq.