Cardica Inc (CRDC)

[nlightn]

Will they have to reverse split by 1/29 if they don't maintain at least a one dollar closing price?

that is potentially the situation CRDC faces.

Don't they have to maintain at least $1 for 10 consecutive days?

if a company trades below $1 for thirty consecutive days the delisting process begins. CRDC got an extension once so they are all out of remedys.

how it works is; Nasdaq sends a warning that the company, in this case CRDC, has 90 days to get the stock trading at an acceptable level above $1 to meet exchange requirements. if the company is unable to do so, Nasdaq then notifies the company of its imminent delisting. a company then has one week to issue a press release telling the world, and its stockholders, the bad news. a failure to issue the release results in a trading halt.

the good news so far is CRDC shareholders have not received a press release advising the world of it's delisting.

New to this stock.

Do they have any more extensions or lifelines to avoid stock split or delisting?

i'm pretty sure their remedy's are exhausted. but there could be guidelines i'm not aware of that the company might be.