Actionable news
All posts from Actionable news
Actionable news in LFVN: Lifevantage Corporation,

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or

On September 30, 2015, LifeVantage Corporation (the Company) received a determination letter from the staff of the NASDAQ Stock Market LLC (Nasdaq) notifying the Company that it has not regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum closing bid price of $1.00 per share. The Company was previously notified of its noncompliance on April 1, 2015, and was provided a period of 180 calendar days to regain compliance with the minimum closing bid price requirement.

The determination letter also notified the Company that it is not eligible for a second 180 calendar day period to regain compliance with the minimum closing bid price requirement because the Company also does not comply with the stockholders equity initial listing r equirement for the Nasdaq Capital Market.

On October 1, 2015, the Company requested a hearing before the Nasdaq Hearings Panel (the Panel) to appeal the determination letter. The Company will be asked to provide the Panel with a plan to regain...