| Star Scientific reported that on November 5 it received a deficiency letter from NASDAQ staff indicating that the company is not in compliance with the NASDAQ minimum bid rule. The letter noted that for the previous thirty consecutive trading days the company's minimum closing bid price per share had been below the $1.00 minimum bid price requirement set forth in NASDAQ Rule 5450(a)(1). In accordance with Marketplace Rule 5810(c)(3)(A), Star has 180 days, or until May 4, 2010, to regain compliance. In its notice NASDAQ indicated that if at any time during this period the minimum closing bid price is $1.00 or more per share for at least ten consecutive trading days, NASDAQ will provide confirmation that the company has regained compliance and the matter will be closed. The deficiency letter has no effect on the current listing or trading of Star Scientific shares. :theflyonthewall.com |
