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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001144204-09-049401.txt : 20090922
<SEC-HEADER>0001144204-09-049401.hdr.sgml : 20090922
<ACCEPTANCE-DATETIME>20090922115440
ACCESSION NUMBER:		0001144204-09-049401
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090916
ITEM INFORMATION:		Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090922
DATE AS OF CHANGE:		20090922

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOANALYTICAL SYSTEMS INC
		CENTRAL INDEX KEY:			0000720154
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				351345024
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23357
		FILM NUMBER:		091080302

	BUSINESS ADDRESS:	
		STREET 1:		2701 KENT AVE
		CITY:			WEST LAFAYETT
		STATE:			IN
		ZIP:			47906-1382
		BUSINESS PHONE:		3174634527

	MAIL ADDRESS:	
		STREET 1:		2701 KENT AVENUE
		CITY:			WEST LAFAYETTE
		STATE:			IN
		ZIP:			47906-1382
</SEC-HEADER>
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STATES</font></div>
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D.C. 20549</font></div>
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8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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Report (Date of earliest event reported): September 16, 2009</font></div>
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charter)</font></div>
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telephone number, including area code: (765) 463-4527</font></div>
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3.01.&#160;&#160;&#160;Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
September 16, 2009, Bioanaltytical Systems, Inc. (the "Company") received two
letters from the Nasdaq Listing Qualification Department (the "Letters") stating
that the Company has failed to satisfy two of the requirements for continued
listing of the Company's common shares on the Nasdaq Global Market, consisting
of the requirement to maintain a minimum of $5.0 million in market value of
publicly held shares (the "MVPHS Requirement") and the requirement to maintain
at least a $1.00 minimum bid price for its common shares (the "Minimum Bid
Requirement").</font></div>
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Letters further stated that, under the listing rules, the Company has until
December 15, 2009 to regain compliance with the MVPHS
Requirement.&#160;&#160;If, at any time prior to December 15, 2009, the market
value of the Company's publicly held common shares is $5.0 million or greater
for 10 consecutive trading days prior to December 15, 2009, the Company will be
in compliance with the MVPHS Requirement.&#160;&#160;As an alternative, the
Company may apply to transfer the listing of its common shares to the Nasdaq
Capital Market (the "Capital Market"), which has a minimum MVPHS Requirement of
$1.0 million for continued listing.</font></div>
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Letters also stated that the Company has until March 15, 2010 to regain
compliance with the Minimum Bid Requirement.&#160;&#160;If, at any time prior to
March 15, 2010, the bid price of the common shares closes at $1.00 or more for a
minimum of 10 consecutive business days, the Company will be in compliance with
the Minimum Bid Requirement.&#160;&#160;The Company intends to actively evaluate
and monitor the bid price for its common shares between now and March 15, 2010,
and consider implementation of various options available to the Company if its
common shares do not trade at a level that is likely to regain
compliance.</font></div>
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Company is considering an application&#160;to transfer its common shares to the
Capital Market prior to December 15, 2009.<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>The Company believes
that it is in compliance with all of the continued listing standards of the
Capital Market except for the Minimum Bid Requirement (which may be waived as an
initial requirement in the event of a transfer). If the Company's minimum bid
does not increase to $1.00 per share or more prior to March 15, 2010, the
Company could be delisted from the Capital Market, in which case the common
shares may be traded over-the-counter.</font></div>
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September 22, 2009 the Company issued a press release announcing receipt of the
Letters.&#160;&#160;A copy of that press release is attached as Exhibit 99.1 and
is incorporated herein by reference.</font></div>
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9.01.&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</font></div>
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Release dated September 22, 2009.</font></div>
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to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
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Index</font></div>
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No.</font>&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">Description</font></font></div>
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dated September 22, 2009.</font></div>
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<TYPE>EX-99.1
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    <title>Unassociated Document</title>
    <!--Licensed to: VF-->
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">For more
information:</font>&#160;&#160;Michael R. Cox</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">765.463.4527</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">mcox@BASInc.com</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">NASDAQ
puts BASi on Notice</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WEST
LAFAYETTE, IN, September 22, 2009 &#8212; Bioanalytical Systems, Inc. (Nasdaq: BASI)
announced today that it received notification from the Nasdaq Listing
Qualification Department on September 16, 2009 that it has failed to maintain a
minimum of $5.0 million in market value of publicly held shares (the "MVPHS
Requirement") and at least a $1 minimum bid price for its common shares (the
"Minimum Bid Requirement"), each of which is required for continued listing of
the Company's common shares on the Nasdaq Global Market.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has until December 15, 2009 to regain compliance with the MVPHS
Requirement by meeting the required market value threshold for a minimum of 10
consecutive business days.&#160;&#160;As an alternative, the Company may apply
to transfer the listing of its common shares to the Nasdaq Capital Market (the
"Capital Market"), which has a minimum MVPHS Requirement of $1.0 million for
continued listing.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company has until March 15, 2010 to regain compliance with the Minimum Bid
Requirement by meeting the required $1.00 bid threshold for a minimum of 10
consecutive business days.&#160;&#160;The Company intends to actively evaluate
and monitor the bid price for its common shares between now and March 15, 2010,
and consider implementation of various options available to the Company if its
common shares do not trade at a level that is likely to regain
compliance.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company&#160;is considering&#160;an application to transfer its common shares to
the Capital Market prior to December 15, 2009.&#160;&#160;Michael Cox, BASi's
Chief Financial Officer, commented, &#8220;For our shareholders, the transition to
Capital Market would be seamless and would not affect trading of our shares.
This transfer would ease the financial compliance burden for our Company and
would reduce our annual listing fees and expenses going forward.&#8221;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company believes that it is in compliance with all of the continued listing
standards of the Capital Market except for the Minimum Bid Requirement (which
may be waived as an initial requirement in the event of a
transfer).&#160;&#160;If the Company's minimum bid does not increase to $1.00
per share or more prior to March 15, 2010, the Company could be delisted from
the Capital Market, in which case the common shares may be traded
over-the-counter.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">BASi is a
pharmaceutical development company providing contract research services and
monitoring instruments to the world&#8217;s leading drug development companies and
medical research organizations.&#160;&#160;The company focuses on developing
innovative services and products that increase efficiency and reduce the cost of
taking a new drug to market. Visit <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.BASInc.com</font> for
more information about BASi.</font></div>
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release contains forward-looking statements that are subject to risks and
uncertainties including, but not limited to, changes in the market and demand
for our products and services, the development, marketing and sales of products
and services, changes in technology, industry standards and regulatory
standards, and various market and operating risks detailed in the company&#8217;s
filings with the Securities and Exchange Commission.</font></div>
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