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| ABMC.PK > SEC Filings for ABMC.PK > Form 8-K on 28-Aug-2009 | All Recent SEC Filings |
28-Aug-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or St
On August 25, 2009, American Bio Medica Corporation (the "Company") received a letter from the NASDAQ Stock Market ("NASDAQ") stating that since NASDAQ's reinstatement of the minimum bid price listing requirement on August 3, 2009, the bid price of the Company's common stock continued to close at less than $1.00 per share. Therefore, the Company has not regained compliance with Listing Rule 5550(a)(2) (the "Rule"), and NASDAQ has determined to delist the Company's securities from the NASDAQ Capital Market.
Accordingly, unless the Company requests a hearing to appeal NASDAQ's determination by 4:00 p.m. (ET) on September 1, 2009, trading of the Company's common stock will be suspended at the opening of business on September 3, 2009, and a Form 25-NSE will be filed with the Securities and Exchange Commission ("SEC"), which will remove the Company's securities from listing and registration on NASDAQ. A hearing request would stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the determination of the appeal.
If the Company does not appeal NASDAQ's determination, the Company's securities may become eligible to trade on the OTC Bulletin Board or "Pink Sheets" if a market maker makes an 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.
As of the date of this report, the Company does not intend to appeal NASDAQ's determination and, based on discussions with several market makers, the Company expects an appropriate market maker to file a Form 211 to register in and quote the Company's securities on the OTC Bulletin Board.
(d) Exhibits
The following exhibit is filed with this report on Form 8-K
Exhibit 99.1 - American Bio Medica Corporation Press Release issued August 28, 2009
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