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BRIEF-Xtera communications received notice of termination of master manufacturing agreement between Co and NSG Technology on Aug 17
August 22, 2016 / 9:21 PM / a year ago

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

Aug 22 (Reuters) - Xtera Communications Inc :

* 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 Source text (bit.ly/2bJzbeZ) Further company coverage:

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