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Shengkai Innovations, Inc. (VALV) Message Board

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  • mani.jose@rocketmail.com mani.jose May 18, 2012 9:03 AM Flag

    Delisting?

    This is what an actual release of delisting looks like tool boy
    They are totally up to date with SEC filings and regulations so a halt is out of your stupid question
    You must be new to investing


    ..... (the "Company") received a letter from the listing qualifications department staff of the NASDAQ Stock Market notifying the Company that for the last 30 consecutive business days the bid price of the Company's common stock had closed below $1.00 per share, the minimum closing bid price required by the continued listing requirements of NASDAQ listing rule 5550(a)(2).
    In accordance with listing rule 5810(c)(3)(A), the Company has 180 calendar days, or until Xxx to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of ten consecutive business days (or such longer period of time as the NASDAQ staff may require in some circumstances, but generally not more than 20 consecutive business days) before XXX

    If the Company's common stock does not achieve compliance by August 8, 2012, the Company may be eligible for an additional 180-day period to regain compliance if it meets the continued listing requirement for market value of publicly held shares and all other initial listing standards, with the exception of the bid price requirement, and provides written notice to NASDAQ of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. However, if it appears to the NASDAQ staff that the Company will not be able to cure the deficiency, or if the Company does not meet the other listing standards, NASDAQ could provide notice that the Company's common stock will become subject to delisting. In the event the Company receives notice that its common stock is being delisted, NASDAQ rules permit the Company to appeal any delisting determination by the NASDAQ staff to a Hearings Panel.

    The Company currently meets the continued listing requirement for market value of publicly held shares and all other initial listing standards of the NASDAQ Stock Market, with the exception of the bid price requirement. The Company intends to actively monitor the closing bid price of its common stock between now and XXX and will evaluate available options to resolve the deficiency and regain compliance with the minimum bid price rule.

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VALV
0.080.0000(0.00%)Jan 29 12:01 PMEST

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