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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Dynasil Corporation of America    DYSL

DYNASIL CORPORATION OF AMERICA

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DYNASIL CORP OF AMERICA : Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing (form 8-K)

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01/11/2019 | 05:38pm EDT

Item 3.01 Notice of Delisting or a Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On January 8, 2019, Dynasil Corporation of America (the "Company") received notice from The Nasdaq Stock Market ("Nasdaq") that, because the closing bid price for the Company's common stock has remained below $1.00 per share for 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, set forth in Nasdaq Marketplace Rule 5550(a)(2).

Nasdaq's notice has no immediate effect on the listing or trading of the Company's common stock on The Nasdaq Capital Market. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days from the date of the notice, or until July 8, 2019, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days prior to July 8, 2019.

If the Company does not regain compliance by July 8, 2019, the Company may be eligible for an additional 180 day grace period. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Nasdaq staff determines that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for such additional compliance period, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would have the right to appeal a determination to delist its common stock, and the common stock would remain listed on The Nasdaq Capital Market until the completion of the appeal process.

The Company is considering actions that it may take in response to this notice in order to regain compliance with applicable requirements for continued listing on The Nasdaq Capital Market. There can be no assurance that the Company will be successful in maintaining its listing of its common stock on The Nasdaq Capital Market.

© Edgar Online, source Glimpses

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Managers
NameTitle
Peter Sulick Chairman, President & Chief Executive Officer
Robert Joseph Bowdring Chief Financial Officer
Craig T. Dunham Independent Director
David Kronfeld Independent Director
Lawrence Joseph Fox Independent Director
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