Replies to post #28060 on Protagenic Therapeutics Inc. (PTIX)

[Paul Wall]

Good catch.

[Z732Z]

Most forgot about that Smoke em---Very good times ahead--

[SpecInvestor]

Good point.
Its funny how rumors stir people up. lol I am no way shape or form negative or SHORT this stock! I have been long since .0161. Its when stuff like this pops up it makes people wonder and start reading into things with a little more detail and speculate a great deal.
If anything is all good for ATRN.

[Old Hillbilly]

Where are you getting that the reason for delisting was lack of a board members?

Line 6,376:
Subsequent to September 30, 2011, the Company delisted its shares from the NASDAQ Capital Market, based in part, on the Company’s continued non-compliance with the minimum stockholders’ equity requirement for continued listing on The NASDAQ Capital Market.
Line 6,380:
The decision to delist its shares from NASDAQ was also made in view of the Company’s contractual obligations to the Buyers of the Company’s Notes and Warrants – see Note 5. On October 27, 2011, the Company and each of the Buyers entered into separate Letter Agreements which modified certain terms of the transaction documents entered into with the Buyers. Pursuant to the terms of the Notes, as amended, the Company was contractually obligated to delist its shares of common stock from the Nasdaq Capital Market and simultaneously list or designate for quotation its common stock on another eligible market by November 4, 2011, to avoid an event of default under the Notes and to regain compliance with various other terms of the transaction documents. The result of these modifications will result in a fourth quarter mark-to-market adjustment to the warrants and derivative liabilities increasing the value of the derivative liability by approximately $0.5 million with an offsetting increase to interest expense.
Line 9,908:
The recent voluntary delisting of our common stock from the NASDAQ stock exchange may have an adverse impact on our stock price and the ability of shareholders to trade our stock.
Line 9,913: ...
??On November 3, 2011, we gave formal written notice to The NASDAQ Stock Market of our intention to voluntarily delist our common stock from NASDAQ, in part due to the Company’s non-compliance with the minimum stockholders’ equity requirement for continued listing on The NASDAQ Capital Market. As a result of the foregoing, trading in the Company’s securities was suspended on NASDAQ effective on that date. Upon suspension from NASDAQ on November 3, 2011, the Company’s common stock will begin trading on the over-the-counter (“OTC”) market tier, OTCQB. Operated by OTC Markets Group Inc., the OTCQB is a market tier for OTC traded companies that are registered and reporting with the SEC.
http://www.sec.gov/Archives/edgar/data/1022899/000114420411064110/0001144204-11-064110-index.htm