The Panda Project Inc, the financially troubled company which recently exited the hardware business to concentrate on semiconductor packaging, has had its shares de-listed from the Nasdaq National Market. Nasdaq said it doubted the Boca Raton, Florida company’s ability to sustain compliance with the Net Tangible Asset requirement of $4.0m and that it was currently not in compliance with the minimum bid price of $1 per share. The company says it is, however, eligible to have its shares traded on the over-the-counter bulletin board. Having made its name – but not its fortune – in processor-independent servers and unconventionally-designed computers, The Panda Project sold its systems business in November to UK-based Round Stone Holdings Ltd for $5m in licensing fees, plus the chance to earn more based on sales. For its most recently reported quarter, the company posted a net loss of $3.6m on revenue that plunged 55.4% to a mere $313,000. It has now focused its efforts on the VSPA low-cost surface-mount semiconductor package, which it claims provides higher I/O in less space with improved electrical and thermal performance compared to other packages on the market. Along those lines, the company has already struck a deal with Malaysian firm ASE Electronics to be a certified VSPA assembly center and lined up Seeq Technology Inc as a customer.
