Delaware | 87-0361799 | |
(State or other jurisdiction of | (IRS Employer | |
incorporation) | Identification No.) |
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
The Nasdaq Marketplace Rules provide the Company with 180 calendar days, or until March 31, 2009, to regain compliance with the minimum bid price requirement, which will require the bid price of the Company's common stock to remain above $1.00 for a minimum of 10 consecutive business days. If the Company does not comply with Marketplace Rule 4310(c)(4) by March 31, 2009, the Company may be entitled to an additional compliance period of 180 days, if at that time the Company meets the Nasdaq Capital Market initial listing criteria in Marketplace Rule 4 310(c), except for the bid price requirement. If the Company is not eligible for an additional compliance period, the Staff will provide written notification that the Company's securities will be delisted, at which time, the Company may appeal Staff's determination to delist its securities to a Listing Qualifications Panel. There is no assurance the Company will be eligible for such additional compliance period or that its common stock will not be delisted from Nasdaq.
On October 7, 2008, the Company issued a press release announcing its receipt of the Nasdaq Letter. The full text of the press release is attached hereto as Exhibit 99.1.
Exhibit 99.1 - Press release dated October 7, 2008.
American Technology Corporation | ||||||||
Date: October 07, 2008 | By: | /s/ Thomas R. Brown | ||||||
Thomas R. Brown | ||||||||
Chief Executive Officer | ||||||||
Exhibit No. | Description | |
EX-99.1 | Press release dated October 7, 2008 |