Summary of IA GLOBAL INC - Yahoo! Finance

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tra

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

On October 1, 2009, IA Global, Inc. ("IA Global" or the "Company") announced that it received a deficiency letter from the NYSE Amex on September 25, 2009. In this letter, NYSE Amex staff accepted IA Global's plan to bring the Company back into compliance with Sections 134 and 1101 of the NYSE Amex's Company Guide by October 12, 2009. IA Global expects to regain compliance with Sections 134 and 1101 of the Company Guide by filing its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2009 with the Securities and Exchange Commission on or before October 12, 2009.

In its letter, the staff also indicated that the Company is not compliance with certain additional continued listing standards set forth in Part 10 of the Company Guide. Specifically, the Company is not in compliance with (i) Section 1003(a)(i) of the Company Guide, since its total shareholders' equity is less than $2 million and the Company has reported losses from continuing operations and net losses in two out of the three most recent fiscal years; (ii) Section 1003(a)(ii) of the Company Guide, since its total shareholders' equity is less than $4 million and the Company has reported losses from continuing operations and net losses in three out of the four most recent fiscal years; (iii) Section 1003(a)(iii) of the Company Guide, since its total shareholders' equity is less than $6 million and the Company has reported losses from continuing operations and net losses in the five most recent fiscal years; and (iv) Section 1003(a)(iv) of the Company Guide, since the Company sustained losses so substantial in relation to its overall operations or its existing financial resources or its financial condition has become so impaired that is appears questionable, in the opinion of the NYSE Amex, that the Company will be able to continue operations and/or meet its obligations as they mature.

In order to maintain its listing on the NYSE Amex, the Company must submit a plan by October 9, 2009 that addresses how it will regain compliance with
Section 1003(a)(iv) of the Company Guide by March 25, 2010 and Section 1003(a)(i), (ii) and (iii) of the Company Guide by March 25, 2011. The Company will be subject to periodic review by the NYSE Amex staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE Amex. The Company expects to submit its plan to regain compliance with the continued listing standards and within the time periods described above on or before the October 9, 2009 deadline.