|
SAN JOSE, Calif., Nov. 23 /PRNewswire-FirstCall/ -- Applied Imaging Corp.
("Applied Imaging") (Nasdaq: AICX), the leading supplier of automated digital
imaging and image analysis systems for the detection and characterization of
chromosomes and molecular markers in genetics and pathology applications,
today announced that it had received a notice from The Nasdaq Stock Market
("Nasdaq") that the Company does not comply with Marketplace Rule
4310(c)(2)(B). Marketplace Rule 4310(c)(2)(B) requires the Company to have a
minimum of $2.5 million in stockholders equity as of September 30, 2005 or
$35.0 million market value of listed securities or $500,000 of net income from
continuing operations for the most recently completed fiscal year or two of
the three most recently completed fiscal years. As of September 30, 2005, the
Companys stockholders equity was $2,040,000.
The Nasdaq staff is reviewing the Companys eligibility for continued
listing on the Nasdaq SmallCap Market. To facilitate this review, on or
before December 5, 2005, the Company must provide a plan including time
horizon, to remedy the deficiency. The Company intends to submit its plan on
or before December 5, 2005. If, after the conclusion of Nasdaqs review of
the Companys plan to achieve and maintain compliance with Nasdaqs listing
requirements, Nasdaq believes the plan does not adequately address the
deficiency issue, Nasdaq will notify the Company that its securities will be
delisted from Nasdaq. At that time, the Company may appeal Nasdaqs decision
to a Nasdaq Listing Qualification Panel.
About Applied Imaging
Applied Imaging Corp., based in San Jose, California, is the leading
supplier of automated imaging and image analysis systems for the detection and
characterization of chromosomes and molecular markers in genetics and
pathology applications. The Company develops, manufactures and markets a
range of scanning and image analysis systems for both conventional
(brightfield) and fluorescent microscopic analysis of cellular and tissue
specimens. Products are sold to hospital laboratories, cancer centers,
prenatal clinics and research institutions for both research and clinical
purposes. The Company has installed over 4,000 of its systems in over
1000 laboratories in more than 60 countries around the world. Beyond its core
business, through its wholly-owned subsidiary, CTC, Inc., the Company is also
developing a system for the detection, quantification and characterization of
tumor cells in the blood of cancer patients.
More information about Applied Imaging can be found at http://www.aicorp.com.
Contacts:
For More Information:
CCG Investor Relations
Crocker Coulson, President
10960 Wilshire Boulevard, Suite 2050
Los Angeles, CA 90024
(310) 231-8600
crocker.coulson@ccgir.com
Applied Imaging Corp.
Terry Griffin, Chief Financial Officer
120 Baytech Drive,
San Jose, CA 95134
(408) 719-6400
tgriffin@aicorp.com
|
|
