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Stock Market & Financial Investment News

News Breaks
March 5, 2014
08:01 EDTCLROClearOne acquires Sabine
ClearOne announced the acquisition of Sabine. Under the terms of the transaction, ClearOne will pay approximately $7.5M in cash and $1.5M in ClearOne shares. In addition, ClearOne will assume and pay off Sabine debt of $1.25M and make earn-out payments over the next three years, based on achievement of certain performance criteria. ClearOne expects to maintain Sabine operations at its current headquarters in Alachua, Florida.
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January 25, 2016
09:32 EDTCLROClearOne announces compliance with NASDAQ
ClearOne announced that the NASDAQ Stock Market has confirmed the company is in compliance with NASDAQ listing rules 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 SEC. As previously disclosed, ClearOne's former auditor, McGladrey, 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 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.

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