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

On November 6, 2008, we received a deficiency letter from the staff of The Nasdaq Stock Market (or Nasdaq) notifying us that we no longer satisfy the $2.5 million minimum stockholders' equity requirement for continued listing of our common stock on the Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 4310(c)(3).

In reviewing our eligibility for continued listing, the Nasdaq staff has requested that we provide a plan to achieve and sustain compliance with the continued listing requirements, including the time frame for completion of the plan. We currently intend to timely file a plan with Nasdaq. If, after conclusion of its review, the Nasdaq staff does not accept our compliance plan, it will provide us with written notice that our common stock will be delisted. At that time, we would have the opportunity to appeal the staff's decision to a Nasdaq Listing Qualifications Panel. During any appeal, our common stock would continued to be listed on Nasdaq pending a hearing and decision by the Listing Qualifications Panel.

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