Accelr8 Technology Corporation Receives Notice from NYSE Amex
July 13 2010 - 5:14PM
Business Wire
Accelr8 Technology Corporation (the “Company”)(NYSE Amex: AXK)
today announced that on July 7, 2010, the Company received
notification from the Corporate Compliance Staff of the NYSE Amex
LLC (the "Exchange") that the Exchange Staff has concluded that the
Company has not regained compliance with Sections 1003(a)(ii) and
1003(a)(iii) of the Exchange's Company Guide due to the fact that
the Company’s stockholders' equity is less than the $4,000,000 and
$6,000,000 thresholds set forth in the applicable rules. Given that
this finding could result in the delisting of the Company’s
securities, the Company intends to timely request a hearing before
a Listing Qualifications Panel (the "Panel") to appeal the Exchange
Staff's determination. The hearing request will automatically stay
the delisting of the Company's common stock until the Panel issues
its decision following the hearing. At the hearing, the Company
will present its plan to regain compliance with the Exchange’s
listing requirements and will request the continued listing of its
securities on the Exchange. However, there can be no assurance that
the Panel will grant the Company's request.
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