Life Partners (LPHI) Receives Noncompliance Letter from Nasdaq
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Life Partners Holdings, Inc. (Nasdaq: LPHI) has received a letter from the staff of the NASDAQ advising that because the company has not yet filed its Form 10-K for the period ended February 28, 2011, the Company does not meet the criteria of Listing Rule 5250(c)(1). NASDAQ Listing Rule 5250(c)(1) requires the Company to timely file all required periodic reports and other documents with the Securities and Exchange Commission. The letter further provided that the NASDAQ will provide the Company with a cure period of 60 days ending August 1, 2011, to submit a plan to regain compliance with the Listing Rules. If the Company submits a plan, NASDAQ can grant the Company up to 180 calendar days from the due date of the Form 10-K, or until November 29, 2011, to regain compliance.
Life Partners intends to submit a plan to regain compliance to NASDAQ no later than August 1, 2011.
Life Partners intends to submit a plan to regain compliance to NASDAQ no later than August 1, 2011.
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