Apple has escaped being de-listed by Nasdaq over its current stock options problem.
A company filing left with the US Securities and Exchange (SEC) on 24 October (Form 8-K, current event update) reveals Apple has two months to resolve its current predicament regarding a number of dodgy options grants.
These grants were backdated to dates at which Apple stock was lower than when grants were awarded, it seems.
The filing - which is listed on the SEC website, but not available for download - explains: "On October 24, 2006, Apple received a written notification from the staff of The Nasdaq Stock Market stating that the Nasdaq Listing Qualifications Panel has granted the request for continued listing on The Nasdaq Stock Market, subject to the condition that Apple files its Form 10-Q for the quarter ended 1 July 2006, and any required restatements, by 29 December 2006."
The statement added that should Apple be unable to comply with this directive, it will ask for an additional extension.
The company has delayed filing its most recent quarterly report while it investigates how much it will have to restate earnings for previous years to account for the stock option problem.