Caedward: I don't know but many microcap and penny stocks have been delisted this year. Seems like after all of the chicanery taking place in the stock market and the exchanges the powers that be have gone after these kind of plays.
Each exchange has their own criteria and that doesn't seem to be set in stone but once a stock is delisted it usually becomes a gray sheet stock and is very difficult to trade. There is no bid or asked posted anywhere so matching up buyers with sellers is almost impossible.
That's as much as I know about the process. I just know that is usually the "kiss of death" for shareholders of any company that gets caught up in that misery.
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