|By Staff and migraines Wire Reports|
|Thursday, 21 April 2011 08:17|
Pursuant to the Panel's decision, on or before June 23, 2011, the Company is required to demonstrate compliance with all applicable requirements for continued listing and, in particular, must complete the following actions: file its Annual Report on Form 10-K with the Securities and Exchange Commission; hold its planned stockholders' meeting at which directors will be elected; and, complete its plans for raising additional equity capital, thereby demonstrating its compliance with the Exchange's stockholders' equity requirement of $6 million and the lack of any financial impairment.
A special report with more details about what transpired at the meeting with the Listing Qualifications Panel of the NYSE Amex Committee on Securities will follow. In the meantime, we invite you to read the special report issued to our premium subscribers on Wednesday.