Lumera (LMRA) Receives Delisting Notification From NASDAQ
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Lumera Corporation (NASDAQ: LMRA) received notice from The NASDAQ Stock Market stating that the Company’s stockholders’ equity at March 31, 2008 of $9,001,000 was less than the $10 million minimum in stockholders’ equity required for continued listing on The NASDAQ Global Market under Marketplace Rule 4450(a)(3).
In its letter, NASDAQ staff requested that the Company provide, on or before May 30, 2008, a plan to achieve and sustain compliance with all of The NASDAQ Global Market listing requirements, including the minimum stockholders’ equity requirement. The Company will submit a plan to comply with the Global Market minimum listing requirements; however, should its plan to regain compliance be deemed insufficient by NASDAQ, the Company will pursue a transfer to the NASDAQ Capital Market where it currently meets the continued listing requirements.
Lumera Corporation (Lumera) design and synthesize polymer materials at the molecular level.[SM]
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