Nanophase (NANX) Receives Listing Noncompliance Notice from Nasdaq
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Nanophase Technologies Corporation (Nasdaq: NANX), announced today that on September 16, 2011, it received notice from the NASDAQ Stock market that the closing price of the Company's common stock had fallen below $1.00 for thirty consecutive business days and the Company therefore currently is not in compliance with NASDAQ Listing Rule 5550(a)(2).
anophase has a 180-day grace period, through March 14, 2012, to regain compliance with the Rule. To regain compliance, the bid price for the Company's common stock must be $1.00 or higher at closing for a minimum of 10 consecutive business days within the 180 day grace period. At the end of the grace period, the Company may be eligible for additional time to regain compliance, up to an additional 180 days. If the Company has not regained compliance and is not eligible for any additional grace period, the Company will receive notification that its securities are subject to delisting from NASDAQ, and it may then appeal that determination to a Hearings panel.
anophase has a 180-day grace period, through March 14, 2012, to regain compliance with the Rule. To regain compliance, the bid price for the Company's common stock must be $1.00 or higher at closing for a minimum of 10 consecutive business days within the 180 day grace period. At the end of the grace period, the Company may be eligible for additional time to regain compliance, up to an additional 180 days. If the Company has not regained compliance and is not eligible for any additional grace period, the Company will receive notification that its securities are subject to delisting from NASDAQ, and it may then appeal that determination to a Hearings panel.
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