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| IVVI.OB > SEC Filings for IVVI.OB > Form 8-K on 18-Jun-2009 | All Recent SEC Filings |
18-Jun-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
As previously disclosed, on June 12, 2009, Ivivi Technologies, Inc. (the "Company") received a letter from the staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq") pursuant to which the Staff notified the Company that it had determined that the Company did not meet the terms of a plan to achieve compliance with all the Nasdaq Capital Market listing requirements. The Company has determined that it will not appeal the decision of the Staff to suspend the trading of the Company's common stock for failing to have a minimum of $2,500,000 in stockholders' equity or $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.
Trading of the Company's common stock will be suspended on the Nasdaq Stock Market at the opening of business on June 23, 2009, and a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.
The Company's securities will not be immediately eligible to be quoted
on the OTC Bulletin Board or in the Pink Sheets following such suspension of
trading on June 23, 2009 unless a market maker makes application to register in
and quote the security in accordance with SEC Rule 15c2-11, and such application
(a "Form 211") is cleared. Only a market maker, not the Company, may file a Form
211. The Company intends to seek a market maker to file a Form 211 in order for
the Company's securities to be quoted on the OTC Bulletin Board. Accordingly,
there can be no assurance that a market maker will file a Form 211 or that the
securities would become quoted on the OTC Bulletin Board or in the Pink Sheets
on a timely basis or at all.
On June 18, 2009, the Company issued a press release announcing its decision not to appeal the Staff's determination. The full text of the press release is attached hereto as Exhibit 99.1.
(d) Exhibits
Exhibit 99.1 - Press release, dated June 18, 2009.
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