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| ABMC > SEC Filings for ABMC > Form 8-K on 30-Oct-2008 | All Recent SEC Filings |
30-Oct-2008
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
On October 30, 2008, American Bio Medica Corporation ("ABMC" or the "Company") received a letter dated October 22, 2008 from The Nasdaq Stock Market ("NASDAQ") stating that, given the extraordinary market conditions, NASDAQ has decided to suspend enforcement of the bid price and market value of publicly held shares requirements through January 16, 2009.
On October 16, 2008, NASDAQ filed an immediately effective rule change with the Securities and Exchange Commission to implement the suspension. As a result, all companies, including ABMC , presently in a bid price or market value of publicly held shares compliance period will remain at that same stage of the process and will not be subject to being delisted for these concerns. These rules will be reinstated on January 19, 2009, and the first relevant trade date will be January 20, 2009.
As of October 16, 2008, the Company had 22 calendar days remaining in its compliance period. Therefore, upon reinstatement of the rules, the Company will still have this number of days, or until February 10, 2009, to regain compliance. The Company can regain compliance, either during the suspension or during the compliance period resuming after the suspension, by achieving a $1 closing bid price for a minimum of 10 consecutive trading days.
(d) Exhibits
The following exhibit is filed with this report on Form 8-K
Exhibit 99.1 - American Bio Medica Corporation Press Release issued October 30, 2008
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