Newlead Holdings Ltd. (fka NEWLF)

[ScovilleUnits]

I understand rule at/above $1 for 10 consecutive days.

(Again I’m suggesting that, much to my surprise per PPS dump immediately following R/S last Thursday, they will achieve by end of next week and therefore will remain on NASDAQ.)

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NewLead Holdings Ltd. Receives NASDAQ Notification Related to Market Value of Listed Securities

http://www.marketwatch.com/story/newlead-holdings-ltd-receives-nasdaq-notification-related-to-market-value-of-listed-securities-2013-12-24

PIRAEUS, Greece, Dec. 24, 2013 --/PRNewswire via COMTEX/ -- NewLead Holdings Ltd. (nasdaqgs:NEWL) (the "Company") today announced that on December 23, 2013, the Company received notice from the Listing Qualifications Staff of The NASDAQ Stock Market LLC ("NASDAQ") indicating that the Company did not satisfy the $50 million in market value of listed securities requirement for continued listing on The NASDAQ Global Select Market (the "Market Cap Requirement"), as set forth in Listing Rule 5450(b)(2)(A), for the prior 30 consecutive business days. In accordance with the NASDAQ Listing Rules, the Company has been granted a 180-day grace period, through June 23, 2014, to evidence compliance with the Market Cap Requirement. Compliance with the Market Cap Requirement can be achieved if the Company evidences a market value of listed securities of at least $50 million for a minimum of 10 consecutive business days, but generally for no more than 20 consecutive business days, during the grace period. The Company believes it can achieve compliance with the Market Cap Requirement during the grace period as it executes on its business plan, which contemplates the completion of additional acquisitions; however, there can be no assurance that the Company will be able to do so. Currently, the Company has approximately 29.7 million shares outstanding, which based on today's closing price reflects a market capitalization of approximately $43.0 million

The Company previously attended a hearing before the NASDAQ Listing Qualifications Panel (the "Panel") to address the Company's non-compliance with the $1.00 bid price requirement. Compliance with the bid price requirement can be achieved if the Company's common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, but generally for no more than 20 consecutive business days. To address the bid price deficiency, on December 6, 2013, the Company implemented a 1-for-3 reverse stock split, which has resulted in the Company evidencing a closing bid price of at least $1.00 per share for 13 consecutive business days as of December 24, 2013. The Company is awaiting the Panel's decision with respect to its compliance with the $1.00 bid price requirement.

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