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DASAN Zhone Announces Receipt of Additional Staff Determination Letter

ID: 1519169
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(Thomson Reuters ONE) -



Contacts

DASAN Zhone Investor Relations: DASAN Zhone Public Relations:

Tel: +1 510.777.7013 Tel: +1 760.814.8194

Fax: +1 510.777.7001 E: carla.vallone(at)portavocepr.com

E: investor-relations(at)dasanzhone.com





Oakland, Calif., August 29, 2017 - DASAN Zhone Solutions, Inc. (formerly known
as Zhone Technologies, Inc.) (NASDAQ: DZSI), a global leader in fiber access
transformation for enterprise and service provider networks, today announced
that on August 21, 2017, it received notice from the Listing Qualifications
Staff (the "Staff") of The NASDAQ Stock Market LLC ("Nasdaq") stating the
company was not in compliance with NASDAQ Listing Rule 5250(c)(1) (the "Rule"),
due to its failure to timely file its Quarterly Report on Form 10-Q for the
quarter ended June 30, 2017, and that this filing delinquency serves as an
additional basis for delisting the company''s securities from the Nasdaq Stock
Market.  On August 28, 2017, the company submitted formal response to the Nasdaq
Hearings Panel (the "Panel") with the company''s plan to file the Form 10-K for
the year ended December 31, 2016 and the Form 10-Q for the periods ended March
31, 2017 and June 30, 2017 by September 27, 2017, deadline already required by
the Panel.
Previously, on April 6, 2017 and May 17, 2017, the Staff notified the company
that it did not comply with Nasdaq''s filing requirements set forth in the Rule
because it had not filed its Annual Report on Form 10-K for the year ended
December 31, 2016 and the Form 10-Q for the period ended March 31, 2017,
respectively.  The company presented its plan to evidence compliance with
Nasdaq''s filing requirement Rule, at a hearing before the Panel on May
25, 2017, and by letter dated June 7, 2017, the Panel granted the Company''s


request for exception through September 27, 2017 to comply with Nasdaq''s filing
requirement .  The company is diligently working to evidence compliance with
Nasdaq''s filing requirement as soon as possible; however, there can be no
assurance that the Panel will grant the company''s request for continued listing
and a further stay of suspension. The delisting of the company''s common stock
from The Nasdaq Capital Market could have a material adverse effect on the
company''s business and on the trading of its common stock.



About DASAN Zhone Solutions
DASAN Zhone Solutions, Inc. (NASDAQ: DZSI) is a global leader in broad-based
network access solutions. The company provides solutions in five major product
areas including broadband access, Ethernet switching, mobile backhaul, passive
optical LAN (POL) and software defined networks (SDN). More than 750 of the
world''s most innovative network operators, service providers and enterprises
turn to DASAN Zhone Solutions for fiber access transformation. The IP Zhone is
the only solution that enables service providers to build the network of the
future today, supporting end-to-end voice, data, entertainment, social media,
business, mobile backhaul and mobility service.  DASAN Zhone Solutions is
committed to building the fastest and highest quality All IP Multi-Service
solution for its customers. DASAN Zhone is headquartered in Oakland, California.

DASAN Zhone Solutions, the DASAN Zhone Solutions logo, and al DASAN Zhone
product names are trademarks of DASAN Zhone Solutions, Inc. Other brand and
product names are trademarks of their respective holders.  Specifications,
products, and/or products names are all subject to change without notice.

Forward-Looking Statements
This press release contains forward-looking statements that are subject to the
safe harbors created under the Securities Act of 1933 and the Securities
Exchange Act of 1934.  Words such as "anticipate," "believe," "continue,"
"could," "estimate," "expect," "goal," "intend," "may," "plan," "project,"
"seek," "should," "target," "will," "would," variations of such words, and
similar expressions are intended to identify forward-looking statements. In
addition, forward-looking statements include, among others, statements that
refer to financial estimates; projections of revenue, margins, expenses or other
financial items. Readers are cautioned that actual results could differ
materially from those expressed in or contemplated by the forward-looking
statements. Factors that could cause actual results to differ include, but are
not limited to, commercial acceptance of the Company''s products; intense
competition in the communications equipment market; the Company''s ability to
execute on its strategy and operating plans; and economic conditions specific to
the communications, networking, internet and related industries. In addition,
please refer to the risk factors contained in the Company''s SEC filings
available at www.sec.gov, including without limitation, the Company''s annual
report on Forms 10-K, 10-Q and 8-K. Readers are cautioned not to place undue
reliance on any forward-looking statements, which speak only as of the date on
which they are made. The Company undertakes no obligation to update or revise
any forward-looking statements for any reason.






This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: DASAN Zhone Solutions, Inc. via GlobeNewswire






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Date: 08/30/2017 - 01:56
Language: English
News-ID 1519169
Character count: 6253
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Firma: DASAN Zhone Solutions, Inc.
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Stadt: Oakland, California
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