Posted at 3:38 p.m., Monday, August 20, 2007
Cyanotech receives another delisting notice from Nasdaq
Advertiser Staff
Cyanotech Corp., the Kona-based company facing a possible delisting of its shares by the Nasdaq Stock Market, said it had received a second notice of non-compliance with market rules.The company reported Nasdaq last week said it wasn't in compliance with requirements for continued listing because it had failed to file a report detailing its quarterly results.
The notification was similar to one Cyanotech received in July that said it was a candidate for delisting because no filing for the fiscal year ending March 31 had been filed.
Cyanotech said the suspension of share trading and delisting has been put on hold until an appeal by the company is heard by Nasdaq on Aug. 30.
The company said it believes it is in compliance with the first deficiency and that it expects to cure the other problem by Sept. 20 with the filing of its quarterly results.
