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| CBTE > SEC Filings for CBTE > Form 8-K on 10-Apr-2009 | All Recent SEC Filings |
10-Apr-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Ru
The Registrant announced that it has received notice dated April 8, 2009, under Marketplace Rule 4310(c)(3) (the "Rule"), that its common stock is subject to potential delisting from the NASDAQ Capital Market because the Registrant does not have a minimum of $2,500,000 in stockholders' equity, $35,000,000 market value of listed securities, or $500,000 of net income from continuing operations for the most recently completed fiscal year or two of the three most recently completed fiscal years. On or before April 23, 2009, the Registrant is required to provide NASDAQ with a specific plan of how it will achieve and sustain compliance with NASDAQ Capital Market listing requirements, including a time frame for completion of such plan. The Registrant expects to provide a plan of action as required with the intention of returning to compliance with NASDAQ requirements.
A copy of the press release is attached hereto as Exhibit 99.1.
On April 9, 2009, the Registrant issued a press release entitled "Commonwealth Biotechnologies, Inc. Receives Marketplace Rule 4310(c)(3) and Going Concern Notices," in which it disclosed (a) the inclusion of a going concern notice in its audited financial statements for the year ended December 31, 2008, as disclosed in its Form 10-K dated March 31, 2009 and (b) the receipt of a notice from The NASDAQ Stock Market, LLC stating that the Registrant was not in compliance with NASDAQ Marketplace Rule 4310(c)(3).
(a) Financial statements of businesses acquired.
Not Applicable.
(b) Pro forma financial information.
Not Applicable.
(c) Shell company transactions.
Not Applicable.
(d) Exhibits.
99.1 Press release dated April 9, 2009, entitled "Commonwealth Biotechnologies, Inc. Receives Marketplace Rule 4310(c)(3) and Going Concern Notices."
Dated: April 10, 2009
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