Brief: Xtera communications received notice of termination of master manufacturing agreement between Co and NSG Technology on Aug 17

Xtera Communications

22/08/2016 22:03

Aug 22 (Reuters) - Xtera Communications Inc  XCOM.O : 
    * On August 17, 2016 received a notice of termination of 
master manufacturing agreement between Co and NSG Technology 
    * Terminating master manufacturing agreement due to Xtera's 
non-payment of outstanding accounts receivable - sec filing 
    * Xtera will continue to work with Foxconn to reach a 
mutually agreeable solution - sec filing 
    * Also received notification from nasdaq indicating co no 
longer complies with requirements of Nasdaq  listing 
    * Currently evaluating various alternative courses of action 
to regain compliance, intends to submit plan with nasdaq before 
Oct 3, 2016 
 
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