ClearOne Announces Compliance with NASDAQ

SALT LAKE CITY, Jan. 25, 2016 /PRNewswire/ -- ClearOne (NASDAQ: CLRO), a global provider of audio and visual communications solutions, today announced that the NASDAQ Stock Market has confirmed the Company is in compliance with NASDAQ Listing Rule 5250(c)(1), after the Company filed Form 10-K/A for the year ended December 31, 2014, Form 10-Q/A for the quarters ended March 31, 2015 and June 30, 2015, and Form 10-Q for the quarter ended September 30, 2015 with the U.S. Securities and Exchange Commission (SEC).  The company submitted all of the above referenced filings to the SEC on January 13, 2016. 

As previously disclosed, ClearOne's former auditor, McGladrey LLP, resigned and withdrew its audit report of the Company's financial statements for the year ended December 31, 2014 solely as a result of its determination that it was not independent of the Company for such period and subsequent interim periods.  McGladrey's resignation was not due to any reason related to ClearOne's financial reporting or accounting operations, policies or practices.  Prior to such determination, ClearOne did not believe there were any issues relating to McGladrey's independence.  On October 13, 2015, the ClearOne's Audit Committee engaged Tanner LLC as the Company's independent registered public accounting firm.  Tanner completed its re-audit of the Company's consolidated financial statements for the year ended December 31, 2014, which did not result in any adjustments or changes to the Company's consolidated financial statements or related notes.  Tanner has provided its unqualified opinion that the Company's consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company and its subsidiaries, and their consolidated results of operations and cash flows for the year ended December 31, 2014.

About ClearOne
ClearOne is a global company that designs, develops and sells conferencing, collaboration, streaming, and digital signage solutions for voice and visual communications.  The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability and scalability.  More information about the company can be found at www.clearone.com.

Contact:
Investor Relations
1-801-975-7200
[email protected] 

SOURCE ClearOne

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http://www.clearone.com