MGT Capital Investments, the parent of computer-aided detection (CAD) developer Medicsight, has received notice from the New York Stock Exchange (NYSE) Amex that it is not in compliance with three standards for continued listing.
The standards include stockholders' equity on March 31 of less than $2 million and losses from continuing operations and/or net losses in two of its three most recent fiscal years; stockholders' equity of less than $4 million and losses from continuing operations and/or net losses in three of its four most recent fiscal years; and stockholders' equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.
MGT said it intends to submit a plan of compliance by July 8, demonstrating its ability to regain compliance within the listing standards within an 18-month remediation period. If the plan is accepted, MGT will continue its listing during the 18-month plan period; if not, MGT will be subject to delisting procedures.
The company's stock trading symbol will remain MGT, but it will include a ".BC" appendage to denote its noncompliance, MGT said. It will bear this additional indicator until MGT regains compliance with the continued listing requirements.
