Navigation Links
HealthCare Technologies Ltd. (NASDAQ: HCTL) Announces Receipt of NASDAQ Delisting Notice
Date:1/10/2008

NEW YORK, January 10 /PRNewswire-FirstCall/ -- HealthCare Technologies Ltd., (the "Company") today announced that it received a letter dated January 7, 2008 from the Staff of the Listing Qualifications Department (the "Staff Determination") of The NASDAQ Stock Market LLC, which indicated that because the Staff believes that the Company's Plan of Arrangement with NexGen Biofuels, Inc., which closed on December 31, 2007, constituted a reverse merger, the surviving entity is required to submit an initial listing application and satisfy Nasdaq's initial listing standards. On September 7, 2007, NexGen Biofuels, Ltd. submitted its listing application. However, the application was not approved because, among other things, the Company did not meet the minimum $4 bid price requirement for initial listing. Accordingly, the Company's securities will be delisted from The NASDAQ Stock Market. In that regard, unless the Company requests an appeal of this determination, NASDAQ will suspend trading of the Company's securities on the Capital Market at the opening of business on January 16, 2008.

In response, the Company intends to timely request a hearing before a NASDAQ Listing Qualifications Panel to address the Staff Determination and seek continued listing in accordance with applicable NASDAQ rules. The Company's hearing request will stay any delisting action pending the issuance of a decision by the Panel following the hearing.

In the event that the Company's appeal is unsuccessful, the Company believes that its ordinary shares will be eligible for trading on the OTC Bulletin Board, subject to the filing of a Form 211 by a market maker.

For more information on NexGen Biofuels, visit http://www.nexgenbiofuels.net

SAFE HARBOR: This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of HealthCare Technologies Ltd. Readers are referred to the documents filed by the company with the Securities and Exchange Commission, specifically the Form 8-K filed on January 7, 2008 that identifies important risks which could cause actual results to differ from those contained in the forward looking statements.

FOR: HealthCare Technologies Ltd.

CONTACT: Eran Rotem CFO

+972-3-9277232-3


'/>"/>
SOURCE HealthCare Technologies Ltd
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Caliper Life Sciences to Present at JPMorgan 26th Annual Healthcare Conference Today
2. Quest Diagnostics to Speak at the 26th Annual JPMorgan Healthcare Conference
3. Telik Announces Presentation and Webcast at JPMorgan Healthcare Conference
4. Cephalon Presentation Slides for the 26th Annual JPMorgan Healthcare Conference Now Available
5. Clarient CEO Ron Andrews to Participate in OneMedPlace Emerging Healthcare Technologies Finance Forum
6. Vical to Participate in Pandemic Influenza Panel at JPMorgan Healthcare Conference
7. Anadys Pharmaceuticals to Present at the JPMorgan Healthcare Conference
8. ARCA Discovery, Inc. to Present at 26th Annual JPMorgan Healthcare Conference on January 8, 2008
9. deCODE genetics to Webcast Presentation at JPMorgan Annual Healthcare Conference
10. QuatRx Pharmaceuticals to Present at 26th Annual JP Morgan Healthcare Conference
11. AutoGenomics Invited to Present at the JPMorgan Healthcare Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... , ... Researchers at the Universita Politecnica delle Marche in Ancona combed medical ... mesothelioma. Their findings are the subject of a new article on the Surviving Mesothelioma ... in the blood, lung fluid or tissue of mesothelioma patients that can help point ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... is pleased to announce the launch of their brand, UP4™ Probiotics, into Target ... over 35 years, is proud to add Target to its list of well-respected ...
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
(Date:6/23/2016)... , June 23, 2016 Houston ... with the Cy-Fair Sports Association to serve as ... the agreement, Houston Methodist Willowbrook will provide sponsorship ... and connectivity with association coaches, volunteers, athletes and ... with the Cy-Fair Sports Association and to bring ...
Breaking Biology Technology:
(Date:6/16/2016)... June 16, 2016 The ... expected to reach USD 1.83 billion by 2024, ... Research, Inc. Technological proliferation and increasing demand in ... expected to drive the market growth. ... The development of advanced multimodal techniques for ...
(Date:6/3/2016)... 2016 Das DOTM ... Nepal hat ein 44 Millionen ... Kennzeichen, einschließlich Personalisierung, Registrierung und IT-Infrastruktur, an ... und Implementierung von Identitätsmanagementlösungen. Zahlreiche renommierte internationale ... teilgenommen, aber Decatur wurde als konformste und ...
(Date:5/24/2016)... facilitates superior patient care by providing unparalleled technology to leaders of the medical imaging ... product recently added to the range of products distributed by Ampronix. Photo ... ... ... News ...
Breaking Biology News(10 mins):