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  Listing Council Decision 2006-6
Identification Number 684
Rules 4450(b)(4) and 4450(a)(5): $3, or its alternative $1, minimum bid price requirement for continued listing on the National Market.
 
Issue: The company's bid price was below $1. The company did not submit a plan to regain compliance, but requested additional time to meet the continued listing requirements following its recapitalization.
 
Determination: The company was properly delisted for failure to comply with the minimum bid price requirement. Approximately four months had elapsed since the completion of the recapitalization, and the company had not regained compliance. Additionally, the company did not provide a definitive plan to regain compliance in the near term or maintain compliance over the long term with the minimum bid price requirement. The company also did not comply with the alternative requirements for continued listing on the National Market or for continued listing on the SmallCap Market.
 
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Rule 4450(b)(3): Market value of publicly held shares of $15,000,000 for continued listing on the National Market.
 
Issue: The market value of publicly held shares of the company's common stock was below $15,000,000.
 
Determination: The company was properly delisted for failure to comply with the market value of publicly held shares requirement. The company did not provide any information indicating how it planned to regain compliance with the market value of publicly held shares requirement or maintain compliance over the long term.
Publication Date*: 7/31/2012 Mailto Link Identification Number: 684
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
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