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Quotes & Info
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| CRGN > SEC Filings for CRGN > Form 8-K/A on 3-Jun-2009 | All Recent SEC Filings |
3-Jun-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tr
As previously disclosed in the Original Form 8-K, on September 26, 2008, the Company announced that on September 23, 2008 it had received the Original Notice advising the Company that the bid price of the Common Stock for the previous 30 consecutive trading days had closed below the Minimum Bid Price required for continued listing on the NASDAQ Global Market pursuant to the Rule. Pursuant to NASDAQ Listing Rule 5810(c)(3)(A), the Company was provided an initial period of 180 calendar days, or until March 23, 2009, to regain compliance with the Minimum Bid Price requirement. The Original Notice further provided that the NASDAQ staff (the "Staff") would provide written notification if and when the Company achieved compliance with the Rule.
As previously disclosed in the Amendment filed on October 27, 2008, on October 22, 2008, the Company received a letter from NASDAQ informing it that NASDAQ had temporarily suspended enforcement of the Minimum Bid Price requirement due to conditions in U.S. and world financial markets, and, as previously disclosed in the Amendment filed on December 30, 3008, on December 23, 2008, the Company received an additional letter from NASDAQ indicating that the suspension period had been extended, with enforcement of the requirement scheduled to resume on April 20, 2009. In addition, as previously disclosed in the Amendment filed on March 27, 2009, on March 24, 2009 the Company received a letter from NASDAQ stating that NASDAQ had further extended the suspension of the Minimum Bid Price requirement and that the enforcement of this requirement is now scheduled to resume on July 20, 2009. Each of these letters indicated that the Company could regain compliance with the Rule, either during the suspension period or during the compliance period resuming after the suspension period, by achieving a $1.00 closing bid price for a minimum of 10 consecutive trading days.
On June 1, 2009, the Company received a letter from the Staff advising the Company that since the closing bid price of the Company's common stock for the previous 10 consecutive business days had closed at or above $1.00 per share, the Company has regained compliance with the Rule and this matter is now closed.
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