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Quotes & Info
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| MDTL > SEC Filings for MDTL > Form 8-K on 8-Apr-2009 | All Recent SEC Filings |
8-Apr-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stan
On April 2, 2009, 2009, we received a letter from the Nasdaq Stock Market ("Nasdaq") informing us that based on our stockholders' deficit as reported in our Annual Report on Form 10-K for the period ended December 31, 2008, we do not comply with the minimum $10 million stockholders' equity requirement for continued listing on the Nasdaq Global Market under Nasdaq Marketplace Rule 4450(a)(3).
We have until April 17, 2009 to provide a plan to achieve and sustain compliance with the Nasdaq Global Market continued listing requirements. If we submit the plan and it is accepted by Nasdaq, Nasdaq may grant us a period of up to 105 days from April 2, 2009 within which to regain compliance with such requirements. If Nasdaq determines that our plan is not sufficient to achieve and sustain compliance, we may appeal the decision. Alternatively, we may apply by April 17, 2009 to list our securities on the Nasdaq Capital Market, assuming we satisfy the requirements for continued listing on that market.
We are currently evaluating whether to file the compliance plan with Nasdaq or to apply to transfer to the Nasdaq Capital Market.
We issued a press release regarding the notification from Nasdaq, a copy of which is attached to this report as Exhibit 99.1 and incorporated herein by reference.
Item9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired - None
(b) Pro Forma Financial Information - None
(c) Shell Company Transactions - None
(d) Exhibits:
Exhibit No. Description
99.1 Press Release dated April 8, 2009
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