Radiation therapy firm North American Scientific (NAS) received a notice from the Nasdaq stock exchange on August 20 that the company's stock price has been less than $1 for the last 30 consecutive business days and is now in noncompliance with the stock market's minimum requirements.
Under Nasdaq rules, if the bid price of common stock closes at $1 per share or more for a minimum of 10 consecutive business days within the next 180 calendar days -- or February 17, 2009 -- NAS will return to Nasdaq. If not, the stock of the Chatsworth, CA-based company will be delisted.
Related Reading
NAS taps new VP of marketing, July 15, 2008
NAS fails to meet Nasdaq minimum bid price, April 11, 2008
NAS revenues up in Q1, but loss widens, March 20, 2008
NAS CFO resigns, March 5, 2008
NAS gets Nasdaq listing nod, February 5, 2008
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