David... wrong. CYCH is not even close to delisting.
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localbusiness.com
The delisting rules
Nasdaq has a number of rules governing when a company gets the boot; a tough one that several companies locally and hundreds across the country are threatened by these days is the minimum bid price rule.
It says that if a company trades for 30 consecutive business days below the minimum bid price or market value of public float requirements, Nasdaq will send a deficiency letter warning that it could be at risk of being delisted.
That minimum bid price threshold for most companies is $1 but can be $5 for firms that don't have net tangible assets of $4 million or greater, Mark Gundersen, a Nasdaq spokesman, told LocalBusiness.com.
Once a company gets a deficiency warning, it has 90 calendar days to regain compliance, Gundersen said. That is, the companies must trade at at least the minimum bid price, typically $1, for 10 consecutive business days, or face being delisted, he said.
If they fail, the companies receive a letter from Nasdaq warning that they will be delisted. They have seven days to appeal the decision, and during that period they must give public notice that they've been sent the delisting notice, Gundersen said. |
