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Thursday, October 30, 2008 8:16:02 AM
On October 24, 2008, the Company received notice from the New York Stock Exchange ("NYSE") that it is not in compliance with NYSE continued listing standards because the 30 trading-day average closing price of the Company's common stock was less than $1.00 per share. Under applicable NYSE rules, the Company generally has six months to return to compliance with this requirement.
The Company expects that its common stock will remain listed on the NYSE during this six-month period. If the average trading price of the Company's common stock does not sufficiently improve, the Company's Board of Directors and management intend to consider a reverse stock split and other possible alternatives. If the Board decides to seek stockholder approval for a reverse stock split, the Company must do so no later than its 2009 annual meeting of stockholders, which is scheduled for May 2009.
http://biz.yahoo.com/bw/081030/20081030005250.html
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