It's not only overdue to 'delist' Talley. It's also overdue to sue this selfenrichment loser guy. His only results are faked promises which he spread as shareholder information, and which never came true.
Without no RS mandate from the stock holders I think there might be a risk for de-listing! Or if management promise the Hearings Panel to request stock holder approval for a RS at the upcoming AM in June?
"EpiCept Receives Nasdaq Staff Determination Letter
Company to Appeal for Additional Time to Regain Compliance
EpiCept Corporation (Nasdaq and Nasdaq OMX Stockholm: EPCT) announced today that on April 6, 2011 it received a Staff Determination letter from the Nasdaq Listing Qualifications Department stating that the Company had not regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2) by April 4, 2011. As a result, the Company's common stock will be scheduled for delisting from The Nasdaq Capital Market unless the Company requests an appeal hearing before the Nasdaq Hearings Panel (the "Panel").
The Company intends to request such a hearing before the Panel, which will stay the delisting of its common stock pending the issuance of a decision by the Panel following the hearing. The Company expects that the hearing will be scheduled this quarter.
At the hearing, the Company will request continued listing on The Nasdaq Capital Market based upon the Company's plan for demonstrating compliance with the applicable listing requirements. Pursuant to the Nasdaq Marketplace Rules, the Panel has the authority to grant the Company up to an additional 180 days from April 4, 2011, i.e. through October 1, 2011, to implement its plan of compliance. There can be no assurance that the Panel will grant the Company's request for additional time to comply with the minimum bid price requirement. "