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HRSH > SEC Filings for HRSH > Form 8-K on 17-Sep-2009All Recent SEC Filings

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Form 8-K for HIRSCH INTERNATIONAL CORP


17-Sep-2009

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or S


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On September 16, 2009, Hirsch International Corp. (the "Company") received a letter from the Nasdaq Stock Market notifying it of its failure to maintain a minimum closing bid price of $1.00 per share for its shares of Class A Common Stock for the prior 30 consecutive business days as required by Nasdaq Stock Market Listing Rule 5550(a)(2) (the "Bid Price Rule"). The letter provides that the Company has until March 15, 2010 to regain compliance with the Bid Price Rule by maintaining a closing bid price of $1.00 per share for a minimum of ten consecutive business days. If the Company does not regain compliance with the Bid Price Rule by March 15, 2010, the Nasdaq Stock Market will determine whether the Company meets the Nasdaq Capital Market initial listing criteria except for the Bid Price Rule. If it meets the initial listing criteria, the Nasdaq Stock Market will notify the Company that it has been granted an additional 180 calendar day compliance period. If the Company is not eligible for an additional compliance period, the Nasdaq Stock Market will provide the Company with written notification that its shares of Class A Common Stock will be delisted. At that time, the Company may appeal the determination to delist its shares of Class A Common Stock to a Nasdaq Hearings Panel.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release of the Company, dated September 17, 2009.


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