Applied Imaging to be delisted by Nasdaq

By Lisa Kerner

Erie, Pa., Jan. 24 - Applied Imaging Corp. said its securities will be delisted from the Nasdaq Capital Market effective with the open of business on Jan. 25 for failure to comply with Nasdaq Marketplace Rule 4310(c)(2)(B).

Applied Imaging's quotation for its common stock is expected to appear in the Pink Sheets under the trading symbol "AICX" on Jan. 25.

The company's appeal of a Dec. 9 Nasdaq staff determination was denied by a Nasdaq Listing Qualifications Panel. The panel found that Applied Imaging failed to comply with the stockholders' equity requirement for continued listing, according to a company news release.

Applied Imaging has 15 days from Jan. 23 to request a review of the panel's decision by the Nasdaq Listing and Hearing Review Council. The company said it is considering this option.

Applied Imaging's common stock may also be quoted in the future on the OTC Bulletin Board, if a market maker files the necessary application with the NASD and the application is cleared, according to the news release.

"While the delisting determination is obviously disappointing, we are continuing to implement our current operational, financial and strategic plans," Applied Imaging president and chief executive officer Robin Stracey said in the release. "We are also proactively exploring other strategic options aimed at ensuring we maximize shareholder value in the long term."

Applied Imaging Corp., based in San Jose, Calif., develops, manufactures and markets scanning and image analysis systems for analysis of cellular and tissue specimens.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.