The Nasdaq stock exchange has notified North American Scientific that the Chatsworth, CA-based company does not comply with the minimum $10 million stockholders' equity requirement under the stock exchange's standards.
The notice, dated September 21, also notes that the radiation therapy technology developer does not comply with the minimum $50 million market value of listed securities.
Under Nasdaq requirements, NAS will submit a plan to achieve and sustain compliance with all Nasdaq Global Market listing requirements, including the minimum stockholders' equity standard.
Nasdaq will review the proposal and determine if it is satisfactory to reach compliance in the short term and sustain compliance in the long term.
By AuntMinnie.com staff writers
September 25, 2007
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NAS posts mixed results in Q3, September 21, 2007
NAS completes sale of Nomos unit, September 19, 2007
NAS signs deal to sell Nomos unit, September 12, 2007
NAS names Barring as COO, September 7, 2007
North American Scientific to divest Nomos unit, August 3, 2007
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