NEW YORK (GenomeWeb News) — Accelr8 said today that it has received notice from the NYSE Alternext that it is not in compliance with certain listing standards concerning its amount of stockholder equity, and that it must submit and implement a plan to regain compliance within 18 months.
The company said it is not in compliance with a section of the NYSE Alternext’s listing standards because it holds stockholder equity of less than $6 million and it has had losses from continuing operations and net losses in its five most recent fiscal years.
According to Accelr8, it will have until Feb. 6 to draft a plan to regain compliance, and it will have until July 6, 2010, to implement that plan. In the interim, the company will be subject to periodic review to determine its progress.
The company said it has informed NYSE Alternext that it intends to submit a plan in a timely fashion to resolve its listing deficiencies and regain compliance.