Prospect Global Resources Inc fka PGRX

[$tockfather]

How long does it usually take the Nasdaq appeal panel to make a decision?

Very odd no decision or follow up PR on appeal for continued listing???

I'm not sure how an appeal decision would be successful considering PGRX current market cap is well below the 35M minimum requirement.

The PPS would have to go up to $10.00 and stay there or above for 30 consecutive days???


Prospect Global Resources Appeals The Delisting Determination To A Nasdaq Hearing Panel

Oct 25 13

On April 25, 2013, Prospect Global Resources, Inc. received written notification from The Nasdaq Stock Market that the company no longer in compliance with Nasdaq Listing Rule 5550(b)(2) because the market value of its listed securities has fallen below the $35 million minimum requirement for continued listing on the Nasdaq Capital Market for a period of at least 30 consecutive business days. Under Nasdaq Listing Rule 5810(c)(3)(C), the company has 180 calendar days to regain compliance. Compliance can be achieved by meeting the $35 million minimum requirement for market value of listed securities for a minimum of 10 consecutive business days during the 180-day compliance period. On October 23, 2013 the company received written notification from The Nasdaq Stock Market that it has not regained compliance during that period and that its common stock would be delisted at the open of business on November 1, 2013. The Nasdaq rules permit the company to appeal the delisting determination to a Nasdaq Hearing Panel, and the company has requested a hearing from Nasdaq for an appeal. A hearing request stays the delisting pending the Panel’s decision, and its common stock will continue to be listed on The Nasdaq Stock Market during this time. If its appeal is unsuccessful the company intends to takes the necessary steps to have its common stock quoted on the OTC Bulletin or in the “Pink Sheets.”