StockerYale gets compliance-plan approval

DECEMBER 8--StockerYale (Salem, NH, USA; www.stockeryale.com) has announced that Nasdaq believes that it has provided a definitive plan evidencing its ability to achieve and sustain compliance with Nasdaq's minimum $10,000,000 stockholders' equity rule. Accordingly, the Nasdaq staff has determined to grant StockerYale an extension of time to evidence compliance with the minimum stockholders' equity rule. Under the terms of the extension, StockerYale must furnish to the SEC and Nasdaq, on or before January 19, 2007, a publicly available report providing specified disclosures and affirmations, including a description of the completed transaction or event that enabled the company to satisfy the stockholders' equity requirement for continued listing. StockerYale intends to furnish a report to the SEC and Nasdaq on or before January 19, 2007, describing its acquisition of Photonic Products on October 31, 2006.

"We believe StockerYale has already achieved compliance with the $10,000,000 minimum stockholders' equity standard as a result of our acquisition of Photonic Products," said Marianne Molleur, StockerYale chief financial officer. "Photonic's audited financial statements and pro forma financial information will be filed on an amended Form 8-K on or before January 16, 2007. We are confident that the financial statements and pro forma financial information will demonstrate that StockerYale has met the minimum stockholders' equity standard since October 31, 2006," added Molleur.