Tuesday, March 17, 2009
Silicon Storage Technology NT 10K (Late Filing Notice)
"Silicon Storage Technology, Inc. (“SST”) is in the process of completing an impairment analysis of its investment in Grace Semiconductor Manufacturing Corporation, a privately held Cayman Islands Company (“GSMC”). On February 4, 2009 SST reported a $5.6 million impairment charge related to it investment in GSMC. Subsequent to the release of its 2008 financial results on February 4, 2009, additional information was obtained by SST which will impact the impairment analysis and increase the amount of the impairment charge. As a result of the ongoing impairment analysis, SST is currently unable to file its Annual Report on Form 10-K for the year ended December 31, 2008 by the required filing date of March 16, 2009 and currently anticipates that it will be filed on or before the fifteenth calendar day following the required due date in accordance with Rule 12b-25."