Bank Of The Carolinas Corp fka BCAR

[kentonmag1]

I live in Canada so pardon my ignorance. I had one question. What is the rule for the NASDAQ regarding a stock priced under $1. This Company has now been a penny stock since August. I thought that they recieved notice from the exchange 30 days after dipping below the $1 and then had 6 months to get their house in order.
Usually Company's then start consolidating their shares to get the per share value back up above the $1 mark, however this company only has 3 million shares trading so not really any room to consolidate.