Once again, as expected, Novell was hit with a Nasdaq non-compliance notice due to their latest filing delay.

In response to the first notice of non-compliance, Novell requested a hearing before a NASDAQ Listing Qualifications Panel (the "Panel"). On Jan. 9, 2007, the Panel granted Novell's request for continued listing subject to the requirements that Novell 1) provide the Panel with certain information relating to the Audit Committee's review on or about March 1, 2007, which was submitted to the Panel, and 2) become current in its delinquent reports and file any necessary restatements by March 13, 2007. On Feb. 20, 2007, Novell received a letter from the NASDAQ Listing and Hearing Review Council (the "Listing Council") indicating that the Listing Council had called for review the Jan. 9, 2007 decision of the Panel and had determined to stay the Panel's decision and any future Panel determinations to suspend Novell's securities from trading pending further action by the Listing Council.

In connection with the call for review, the Listing Council has provided Novell with the opportunity to make an additional submission for the Listing Council's consideration by May 4, 2007 describing Novell's plan for filing the necessary periodic reports. NASDAQ has also provided Novell with the opportunity to make a submission by March 22, 2007 specifically addressing the delay in filing its First Quarter Form 10-Q. The Company intends to timely provide both submissions to NASDAQ.

The Company is working diligently to complete all necessary filings and thereby demonstrate compliance with all applicable requirements for continued listing on the NASDAQ Global Select Market; however, there can be no assurance that the Listing Council will determine to grant the Company a further extension following its review of the forthcoming submissions.

I am considering creating a boilerplate template for these articles if this continues every quarter...