Wave Systems Corp. (fka WAVXQ)

[barge]

Awk to the rescue...Wave can still extend the delisting another 180 days. It appears my black episode of acute paranoia and dread may have been something of an over-reaction.


http://www.mbbp.com/resources/business/nasdaq-delisting.html

3. DELISTING LETTER (estimated) JULY 9, 2013 and POSSIBLE 180 DAY EXTENSION

Upon receipt of a delisting letter the company will have seven days to submit a written request for a hearing before the NASDAQ Listing Qualifications Panel. The timely submission of this request will stay the delisting process pending the decision of the panel.

At a hearing the company will be required to present a plan to regain compliance with the continued listing standards. The plan of compliance should describe the manner in which the company will regain and maintain compliance with the NASDAQ continued listing standards. NASDAQ has stated that the plan should include the implementation of a reverse stock split in the near term – no later than 180 days after receipt of the delisting letter.

In determining whether to provide the company with the opportunity to implement its plan of compliance, the panel may consider other factors such as the company’s fundamental financial strengths and weaknesses, the overall market, the company’s historical bid price and impending corporate actions. Fees for a hearing range up to $5,000