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| HSKA > SEC Filings for HSKA > Form 8-K on 24-Oct-2008 | All Recent SEC Filings |
24-Oct-2008
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transf
On October 20, 2008, Heska Corporation, or Heska, received a letter from The Nasdaq Stock Market Listing Qualifications department confirming that Heska's common stock has closed below the minimum $1.00 per share requirement for the last 30 consecutive trading days, a requirement for continued inclusion under Marketplace Rule 4310(c)(4), or the Bid Price Rule. However, given recent extraordinary market conditions marked by unprecedented turmoil in U.S. and world financial markets, Nasdaq has recently suspended enforcement of the Bid Price Rule for all Nasdaq-listed companies through January 16, 2009. Following reinstatement of the Bid Price Rule on January 19, 2009, and in accordance with Marketplace Rule 4310(c)(8)(D), Heska will be provided 180 calendar days, or until July 20, 2009, to regain compliance with the Bid Price Rule. If, at anytime before July 20, 2009, the bid price of Heska's common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, Heska should regain compliance with the Bid Price Rule.
If compliance with the Bid Price Rule cannot be demonstrated by July 20, 2009, the staff of the Nasdaq, "the Staff", will determine whether Heska meets The Nasdaq Capital Market initial listing criteria set forth in Marketplace Rule 4310(c), except for the bid price requirement. If Heska meets the initial listing criteria, the Staff will notify Heska that it has been granted an additional 180 calendar day compliance period. If Heska is not eligible for an additional compliance period, the Staff will provide written notification to Heska that its securities will be delisted. Heska may then appeal the Staff's determination to a Nasdaq Listing Qualifications Panel.
A copy of the press release announcing the notification from the Staff is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated October 24, 2008.
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