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10/06/09 2:06 PM

#29314 RE: DewDiligence #29273

Dew, I was wondering if you might have some insights on how long a delisting appeal process can conceivably last?

Cortex got a notice of lack of compliance from AMEX in May, then Cortex filed a plan to regain compliance on June 18, but that plan was rejected Aug 20. Cortex said they would appeal that decision by Aug 27, and a hearing would be scheduled within 45 days of that request (by ~Oct 11 by my calculations).

So I'm wondering if this appeal decision would be the final one, or perhaps there is another step that could extend the process further? Could they perhaps allow another appeal based on an upcoming partnership cash infusion? I also wonder if the pps might also have to rise to a certain level, in addition to a cash infusion, in order to allow another appeal/reprieve to the final delisting verdict?

Thanks again for any insights.