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The company said further in its release that this notice follows the Company's previous announcement on February 22, that it had received notification from the Staff stating that the Company's common stock had not maintained the required $1.00 minimum bid price over the prior 30 consecutive trading days, and, in accordance with Marketplace Rule 4450(e)(2), and providing the Company with 180 calendar days, or until August 13, to regain compliance.
At a recent hearing before a NASDAQ Listing Qualifications Panel, the Company presented to the Panel its plan to evidence compliance with the minimum bid price rule, among other listing requirements.
Pending the Panel's decision, the Company will remain listed. However, there can be no assurances that the Panel will grant the Company's request for continued listing.
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