Navigation Links
AMEX Notifies Signalife that It Will Need to Comply with Minimum Stockholders' Equity Requirement
Date:1/14/2008

GREENVILLE, S.C., Jan. 14 /PRNewswire-FirstCall/ -- On January 7, 2008, The American Stock Exchange ("AMEX") issued a deficiency letter to Signalife pursuant to which it advised Signalife that it would need to comply with the $6 million stockholders' equity threshold required for continued listing under AMEX Rules 1003(a)(iii). This notification was triggered by the recent decline of Signalife's market capitalization to less than $50 million, which previously exempted Signalife from meeting the minimum stockholders' equity requirement. Pursuant to the letter, Signalife will be required to submit to AMEX by February 6, 2008 for its review and acceptance a plan to bring the company into compliance with the aforesaid stockholders' equity requirement within a sixteen month period or by such earlier date as AMEX may deem reasonable. Signalife is presently preparing a plan to submit to AMEX to address the stockholders' equity matter.

The deficiency letter is the second instance in which AMEX noted the decline in Signalife's market price to below the $50 million level. Signalife received the earlier deficiency letter from AMEX in June 2007, pursuant to which Signalife provided a plan to AMEX which was not rejected by AMEX and which Signalife will amend and resubmit in response to this latest notice. This earlier deficiency was cured in October 2007 as a result of the return of Signalife's market capitalization to above $50 million.

No guarantee can be given that AMEX will accept the plan or that Signalife will be able to so increase its stockholders' equity to the $6 million threshold within the period stipulated by AMEX, either of which would lead to a delisting of Signalife's common shares from the AMEX market. If Signalife's market capitalization were to again return to levels above $50 million, and were maintained at that level, and if the Company was otherwise in compliance with all AMEX rules, then the new plan to be submitted will not need to be implemented.

About Signalife, Inc.

Signalife, Inc. is a life sciences company focused on the monitoring and detection of disease through continuous biomedical signal monitoring. Signalife uses its patented signal technology to design and develop medical devices that simplify and reduce the costs of diagnostic testing and patient monitoring in an ambulatory setting. Signalife, Inc. is the recipient of the Frost & Sullivan Technological Innovation Award for 2006.

Signalife, Inc. is traded on the American Stock Exchange under the symbol SGN. More information is located at http://www.signalife.com.

Caution Regarding Forward-Looking Statements

In this news release we make a number of statements, referred to as "forward-looking statements", which are intended to convey our expectations or predictions regarding the occurrence of possible future events or the existence of trends and factors that may impact our future plans and operating results. Any statements in this news release that are not statements of historical fact maybe considered to be forward-looking statements. These forward-looking statements are derived, in part, from various assumptions and analyses we have made in the context of our current business plan and information currently available to us and in light of our experience and perceptions of historical trends, current conditions and expected future developments and other factors we believe to be appropriate in the circumstances. You can generally identify forward-looking statements through words and phrases such as "seek", "anticipate", "believe", "estimate", "expect", "intend", "plan", "budget", "project", "may be", "may continue", "may likely result", and similar expressions. Each forward-looking statement should be read in context with, and with an understanding of, the various other disclosures concerning our company and our business made in this news release as well as other public reports we file with the SEC, as they may be amended. You should not place undue reliance on any forward-looking statement as a prediction of actual results or developments. For example, no assurance can be given that the AMEX will approve Signalife's proposed plan, or that Signalife's common stock will continue to trade on AMEX. We are not obligated to update or revise any forward-looking statement contained in this news release to reflect new events or circumstances unless and to the extent required by applicable law.


'/>"/>
SOURCE Signalife, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Signalife Provides Corporate Update
2. Legendary Earvin Magic Johnson Joins AFL/Signalife Cardiovascular Protection Team
3. Signalifes Dr. Harmison Launches Award-Winning Ambulatory Heart Monitor
4. Signalife Achieves $1.98 Million Sales Orders Thus Far
5. Signalife Receives Another $3.3 Million Sales Orders
6. NFL Hall of Fame Legend Fred Biletnikoff Joins AFL/Signalife Cardiovascular Protection Team
7. Signalife Continues to Procure Purchase Orders, Revenues
8. Signalife Receives FDA Clearance for OTC Non-Prescription Event Recorder Device
9. U.S. Patent 7,299,083 Awarded to Signalife
10. Signalife Presence at XIII World Congress on Cardiac Pacing and Electrophysiology
11. Tapestry Receives Notice Regarding Minimum Bid Price Rule
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/22/2017)... DIEGO , Feb. 22, 2017  Creative ... expansion of its translational research program using its ... of laboratory facilities in San Diego.  The Company ... BioLabs facility, a biotechnology incubator sponsored by the ... In November 2016, the Company obtained an ...
(Date:2/21/2017)... - SQI Diagnostics Inc. ("SQI" or the "Company") (TSX-V: SQD; OTCQX: ... months ended December 31, 2016. SQI is ... company that develops and commercializes proprietary technologies and products for ... ... milestones achieved in fiscal 2016," said Andrew Morris , ...
(Date:2/21/2017)... Switzerland (PRWEB) , ... February 21, 2017 , ... ... biopharmaceutical and biotech research and development (R&D), today announced the establishment of Genedata ... by Managing Director Kevin Teburi, a recognized expert in life science informatics. Creating ...
(Date:2/21/2017)... Chicago, IL (PRWEB) , ... ... ... launch of the Life -Sciences division, Treximo will pair its $200M operational ... class, results-based consulting and project management in areas affecting quality and operational ...
Breaking Biology Technology:
(Date:2/9/2017)... , Feb. 9, 2017 The biomass ... analysis of the biomass boiler market globally in terms ... of biomass boilers. The market for biomass boilers has ... type, end-user, application, and country/region. The market based on ... & forest residues, biogas & energy crops, urban residues, ...
(Date:2/8/2017)... Feb. 7, 2017 Report Highlights ... 2021 from $8.3 billion in 2016 at a compound ... 2021. Report Includes - An overview of the ... trends, with data from 2015 and 2016, and projections ... Segmentation of the market on the basis of product ...
(Date:2/3/2017)... , Feb. 3, 2017  Texas Biomedical Research Institute announced ... Larry Schlesinger as the Institute,s new President and ... effective May 31, 2017. He is currently the Chair of ... the Center for Microbial Interface Biology at Ohio State University. ... the new President and CEO of Texas Biomed," said Dr. ...
Breaking Biology News(10 mins):