This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Xcorporeal, Inc. Reports on Receiving a Notice from NYSE Amex LLC of Its Intent to Initiate Delisting Proceedings 2009-08-26 16:30 ET - News Release LOS ANGELES -- (Business Wire)
Xcorporeal, Inc. (NYSE Amex: XCR) (the “Company” or “Xcorporeal”)
announced today that, on August 20, 2009, the Company received notice
from the staff of the NYSE Amex LLC (formerly American Stock Exchange,
the “Exchange”) indicating that, in the opinion of the staff of the
Exchange, the Plan of Compliance previously submitted by the Company to
the Exchange does not make a reasonable demonstration of the Company’s
ability to regain compliance with Section 1003(a)(iv) of the NYSE Amex
Company Guide by November 16, 2009, due to the Company having sustained
losses which are so substantial in relation to the Company’s overall
operations or its existing financial resources, or its financial
condition had become so impaired that it appears questionable, in the
opinion of the Exchange, as to whether the Company would be able to
continue operations and/or meet its obligations as they mature.
Accordingly, the Company’s securities are subject to immediate delisting
proceedings. The Company will not appeal this decision and pursuant to
the terms of the notice, if the Company elects not to appeal the Amex’s
decision by August 27, 2009, it will become final. The staff of the
Exchange will then suspend trading in the Company’s securities on the
Exchange and file an application with the U.S. Securities and Exchange
Commission to strike the Company’s common stock from listing and
registration on the Exchange.
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