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The company noted that the warrants have been amended to (i) increase the exercise price of the warrants from $1.61 per share to $1.63 per share, (ii) provide that the warrants may not be exercised until November 23, and (iii) extend the expiration date of the warrants until May 27, 2014. The written notice from the Staff of the NASDAQ Stock Market indicated that, based on these amendments, Converted Organics has regained compliance with Listing Rule 5635(d)(2) and that the matter is closed.
Converted Organics is dedicated to producing all-natural, organic soil amendment and fertilizer products through food waste recycling.
((Comments on this story may be sent to health@closeupmedia.com))
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