Endocare, Inc. (fka ENDO)

[ScovilleUnits]

Receives NASDAQ Deficiency Letter Regarding Stockholders' Equity

Wednesday, May 27, 2009 06:00ET

IRVINE, Calif., May 27 /PRNewswire-FirstCall/ -- Endocare, Inc. (Nasdaq: ENDO), an innovative medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation, today announced that on May 20, 2009 the Company received a letter from The NASDAQ Stock Market notifying the Company that, based on its Form 10-Q for the period ended March 31, 2009, NASDAQ has determined that the Company's stockholders' equity does not comply with the minimum $2.5 million stockholders' equity requirement for continued listing on The NASDAQ Capital Market as required by NASDAQ Marketplace Rule 5550(b)(1).

As provided in the NASDAQ Marketplace Rules, the Company has the opportunity to submit to NASDAQ a specific plan and timeline to achieve and sustain compliance. The Company intends to submit to the NASDAQ staff in a timely manner a plan to continue listing on The NASDAQ Capital Market. Under NASDAQ Marketplace Rules, the Company must submit its plan by June 4, 2009, and, if it is accepted, the Company will then be given up to 105 calendar days from the date of the May 20 letter to regain compliance.


http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6349124