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Quotes & Info
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| AMCE > SEC Filings for AMCE > Form 8-K on 17-Sep-2009 | All Recent SEC Filings |
17-Sep-2009
Notice of Delisting or Failure to Satisfy a Continued Listing Rule
On September 15, 2009, American Claims Evaluation, Inc. (the "Company") received
a deficiency letter from The Nasdaq Stock Market indicating that for 30
consecutive business days the Company's common stock had a closing bid price
below the $1.00 minimum closing bid as required for continued listing set forth
in Nasdaq Listing Rule 5550(a)(2). In accordance with Nasdaq Listing
Rule 5810(c)(3)(A), the Company was provided a grace period of 180 calendar
days, or until March 15, 2010, to regain compliance with this requirement.
At this time, this notification has no effect on the listing of the Company's
common stock on The Nasdaq Capital Market.
The Company can regain compliance with the minimum closing bid price rule if the
bid price of its common stock closes at $1.00 or higher for a minimum of ten
consecutive business days during the initial 180 calendar day grace period,
although Nasdaq may, in its discretion, require the Company to maintain a bid
price of at least $1.00 per share for a period in excess of ten consecutive
business days (but generally no more than 20 consecutive business days) before
determining that the Company has demonstrated the ability to maintain long-term
compliance. If compliance is not achieved by March 15, 2010, the Company may be
eligible for an additional 180 calendar day grace period if it meets The Nasdaq
Capital Market initial listing criteria as set forth in Nasdaq Listing Rule 5505
other than the minimum closing bid price requirement. If the Company is not
eligible for such additional grace period, or does not regain compliance during
any additional grace period, Nasdaq will provide written notice to the Company
that its securities will be delisted from The Nasdaq Capital Market. At such
time, the Company would be able to appeal the delisting determination to the
Nasdaq Listing Qualifications Department.
Exhibit 99.1 Press Release of American Claims Evaluation, Inc., dated
September 17, 2009.
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