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Note 11 - NASDAQ Compliance
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3 Months Ended |
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Mar. 31, 2013
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| NASDAQ Compliance [Text Block] |
NOTE
11 – NASDAQ COMPLIANCE
On
February 15, 2013, the Company was notified by the Nasdaq
Stock Market that it is not in compliance with the continued
listing requirements for the Nasdaq Capital Market because
shares of the Company’s Common Stock had closed at a
per share bid price of less than $1.00 for at least 30
consecutive trading days. Under Nasdaq rules, the Company was
given a 180-day grace period to regain compliance, which
extends to August 14, 2013. In order to regain compliance,
shares of the Company’s Common Stock would need to
close at a price of $1.00 per share or more for at least ten
consecutive trading days at any time prior to August 14,
2013. The Company may be granted an additional 180-day grace
period to regain compliance, if, at that time, it meets the
initial listing criteria of the Nasdaq Capital Market, other
than the minimum bid price requirement. In the event that the
Company does not regain compliance within the requisite time
period, it would have the right to appeal any delisting. The
failure to maintain listing on the Nasdaq Capital Market may
have an adverse effect on the price and/or liquidity of the
Company’s Common Stock.
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