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Quotes & Info
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| ROYL > SEC Filings for ROYL > Form 8-K on 7-Apr-2009 | All Recent SEC Filings |
7-Apr-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
On April 1, 2008, Nasdaq notified Royale Energy, Inc., by letter that Royale is not currently in compliance with the requirement that companies listed on the Nasdaq Global Market are required by Marketplace Rule 4450(a)(3) to maintain a minimum of $10 million in stockholders' equity for continued listing. Royale's Form 10-K for the year ended December 31, 2008, reported stockholders' equity at December 31, 2008, of $7,394,467.
Under Nasdaq rules, Royale has 15 calendar days from the date of the notification to submit a plan to regain compliance or, in the alternative, to seek listing on the Nasdaq Capital Market. Royale is preparing to submit its plan to regain compliance in accordance with Nasdaq rules.
Attached is a press release describing the Nasdaq notice and Royale's response.
Exhibit 99.1 Press Release
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