The notification received from NYSE AMEX LLC had no current effect on the listing of the company's shares on the exchange. Rather, the company was afforded the opportunity to submit a supplement to its compliance plan, pursuant to which the company would seek to establish compliance with the requirements of section 1003(a)(i) and 1003(a)(ii) by June 23, 2010, as called for by the exchange. The company submitted its supplement to the compliance plan to the exchange on January 26, 2010.
On March 5, 2010, the exchange notified Cardium that, based on its review of information provided by the company, Cardium had made a reasonable demonstration of its ability to regain compliance with the requirements of sections 1003(a)(i) and 1003(a)(ii) of the NYSE AMEX company guide by June 23, 2010.
The company will be subject to periodic review by the exchange staff during the extension period covered by the plan. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the applicable extension periods could result in the company's shares being delisted from the exchange. If the company's common stock was ultimately delisted from the exchange, it would be expected to trade on the OTC Bulletin Board, a regulated quotation service that provides quotes, sale
|SOURCE Cardium Therapeutics|
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