Digimarc (NASDAQ:DMRCE)
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From Jun 2019 to Jun 2024
Digimarc Corporation (Nasdaq:DMRCE) announced today it
has filed an amended Annual Report on Form 10-K for the year ended
December 31, 2004. The amendment includes an update to Item 9A,
"Controls and Procedures," to provide management's assessment and the
related attestation report of the Company's independent registered
public accounting firm on internal control over financial reporting as
required by Section 404 of the Sarbanes-Oxley Act of 2002.
As previously announced, management had concluded that there were
material weaknesses in the Company's internal control structure as of
December 31, 2004. The amended Annual Report on Form 10-K includes the
attestation report of the Company's independent registered public
accounting firm, which also concludes that the Company's internal
control over financial reporting was not effective as of December 31,
2004. This adverse opinion did not affect the opinion of Digimarc's
independent registered public accounting firm regarding the financial
statements included in Form 10-K or Form 10-K/A. The Company and its
auditors employed extensive compensating procedures to provide
validation that the financial statements for 2004 fairly reflect the
financial performance of the Company, despite the internal control
weaknesses that the Company's management identified.
The Company believes that it is fully in compliance with all
Nasdaq listing requirements at this time and that its continued
listing on Nasdaq is therefore appropriate. Now that all required SEC
filings have been made, the Company will request removal of the "E"
from the Company's trading symbol. The Company cannot provide any
assurance at this time regarding the timing of or response to that
request or the outcome of further review of the Company's listing by
the Nasdaq Listing Qualifications Council.
About Digimarc
Digimarc Corporation (Nasdaq:DMRCE), based in Beaverton, Oregon,
is a leading supplier of secure media solutions used in a wide range
of security, identification and digital media content applications.
Digimarc provides products and services that enable the production
of more than 60 million personal identification documents, including
two-thirds of U.S. driver licenses and IDs for more than 20 countries.
Digimarc's digital watermarking technology provides a persistent
digital identity for various media content and is used to enhance the
security of financial documents, identity documents and digital
images, and support other media rights management applications.
Digimarc has an extensive intellectual property portfolio, with
192 issued U.S. patents with more than 4,000 claims, and more than 400
pending patent applications in digital watermarking, personal
identification and related technologies.
The Company is headquartered in Beaverton, Oregon, with other U.S.
offices in Burlington, Massachusetts, Fort Wayne, Indiana, and the
Washington, DC, area, and international offices in London and Mexico.
Please go to www.digimarc.com for more Company information.
Securities Safe Harbor Under the Private Securities Litigation
Reform Act of 1995
This release contains certain "forward-looking statements" that
are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements include statements relating to the status of the Company's
compliance with Nasdaq listing requirements, characters within the
Company's trading symbol, and other statements of management's opinion
or expectations, such as statements containing the words "believes,"
"expects," "estimates," "anticipates" or words of similar import or
statements of management's opinion. These statements are subject to
certain assumptions, risks, uncertainties and changes in
circumstances. Actual results may vary materially due to, among other
things, the decision of either the Nasdaq Listing Qualifications Panel
or the Nasdaq Listing and Hearing Review Counsel concerning the
continued listing of the Company's common stock on Nasdaq, as well as
changes in economic, business, competitive, technological and/or
regulatory factors and trends. Digimarc is not obligated to (and
expressly disclaims any obligation to) revise/update any
forward-looking statements in order to reflect events or circumstances
that may arise after the date of this release. More detailed
information about risk factors that may affect actual results is set
forth in filings by Digimarc with the Securities and Exchange
Commission, including its recent filings on Forms 10-K, 10-Q and 8-K,
including, but not limited to, those described in the Company's Form
10-Q for the quarterly period ended March 31, 2005, in Part I, Item 2
thereof ("Management's Discussion and Analysis of Financial Condition
and Results of Operations") under the captions "Overview,"
"Restatement of Prior Financial Results," "Critical Accounting
Policies and Estimates," "Liquidity and Capital Resources," and "Risk
Factors," and in Part I, Item 4 thereof ("Controls and Procedures").