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Dolphin Integration postpones the publication of yearly financial statements and resumes its stock market listing on 27 July 2018
Grenoble, France - July 26, 2018
Following the opening judgment of the bankruptcy proceedings rendered on 24 July, the financial position of DOLPHIN INTEGRATION enables it to cover all of its staff costs and related expenses as well as its current operations. Indeed the proceedings facilitate the negociation of new reimbursement schedules with our creditors.
The management team is developing with the insolvency administrator an ongoing business continuity plan, which is of interest to various shareholders and potential investors and the company has put in place the specific procedures of data room.
The Commercial Court of Grenoble must examine in court hearing on August 16, 2018 the possible solutions which will have been formalized, either those aiming at broadening the investment round in the perspective of the continuity of its operation, or that aiming at the sale of the company's assets.
These uncertainties affecting the valuation of intangible assets justify the postponement of the publication of the financial accounts for fiscal year 2018 (ended on March 31) beyond July 31, 2018. However, the Company plans to publish these accounts before the end of the third quarter of 2018.
The company has asked EURONEXT GROWTH to resume the listing of its ALDOL share at the opening of the Paris stock exchange on Friday, July 27, 2018.
The company DOLPHIN INTEGRATION is an integrated circuit design center, created in 1985, exporter of integrated circuits and components called virtual, analog and digital, for high volume manufacturing. It has contributed to the emergence of a microelectronics design industry, drawing its momentum from the semiconductor industry, with competitive products, standard or custom, essential for both consumer applications and markets of industry and aeronautics.
The company owns and maintains today a portfolio of about fifteen active patents covering Europe, the United States and Asia. The strategy of new product development at a steady pace results in regular patent filings.
The company's offering is comprised of a mix of know-how, of hardware components and of software solutions, particularly within the two niches of very low consumption and high quality audio signal-processing.
The company aims to be a global player in the niche of service design of integrated circuits, optimized for very low consumption, aiming at the explosive markets of IoT (Internet of Things, i.e. devices on battery needing energy efficiency). The company's products address both the needs of consumer markets and those of the industrial sector, including the European defense industry.
The company enjoys international renown, with a unique offer recognized by the major players in the sector and its industrial partners.
For the fiscal year ended March 31, 2018, DOLPHIN INTEGRATION generated 17.7 M€ of sales turnover.
The Chairman of the board of directors