On August 22, Senesco Technologies received a notice from NYSE Regulation, Inc. on behalf of NYSE MKT providing notification that NYSE MKT has determined not to grant the Company an extension to the Company's time period to cure the Company's non-compliance with certain of the NYSE MKT's continued listing standards as set forth in Part 10 of the NYSE MKT Company Guide, and therefore, the NYSE MKT intends to file a delisting application with the Securities and Exchange Commission striking the Company's common stock from the NYSE MKT. Specifically, the Company is not in compliance with Section 1003(a)(iii) of the Company Guide with stockholder's equity of less than $6M at June 30, 2011 and losses from continuing operations and/or net losses in its five most recent fiscal years and with Section 1003(a)(ii) of the Company Guide with stockholder's equity of less than $4M at September 30, 2011 and losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Company reported stockholder's equity of $4,517,463 at June 30, 2011 and 3,933,130 at September 30, 2011.The Company intends to appeal the NYSE MKT's determination and request a hearing a committee of NYSE MKT.
Happy demi-anniversary, stock market rally. Will the honeymoon ever end?