If you read the release, they have until the 10th of September to request a hearing....which they state they dont anticipate doing. We have to assume that the share price already reflects the delisting
On September 3, 2014, Kips Bay Medical, Inc. (the “Company”) received a Staff Delisting Determination letter from the Listing Qualifications Department of The Nasdaq Stock Market (“NASDAQ”) notifying the Company that it had not timely regained compliance with the $1.00 minimum bid price requirement for continued listing on The NASDAQ Capital Market, as set forth in Listing Rule 5550(a)(2), and that, as a result, the Company’s common stock would be subject to delisting unless the Company timely requests a hearing before the NASDAQ Hearings Panel. Should the Company fail to request a hearing before the NASDAQ Hearings Panel by September 10, 2014 (which the Company does not anticipate requesting), the Company’s common stock will be suspended at the opening of business on September 12, 2014 and a Form 25-NSE will be filed by NASDAQ with the U.S. Securities and Exchange Commission, which will formally remove the Company’s common stock from listing on NASDAQ thereafter.
