Zila, Inc. today announced that it received a Nasdaq Staff Deficiency Letter on March 23, 2009 indicating that the company fails to meet the minimum stockholders’ equity requirement for continued listing on The Nasdaq Global Market set forth in Marketplace Rule 4450(a)(3). Zila’s Form 10-Q for the quarterly period ended January 31, 2009 reported stockholders’ equity of less than $10,000,000.
In accordance with Nasdaq rules, Zila was given until April 7, 2009 to submit a plan to regain compliance with Nasdaq’s standards for continued listing. If the company submits a plan and it is accepted by the Listing Qualifications Department, Zila may be granted an exception of up to 105 calendar days from the date of the deficiency letter (i.e., until July 6, 2009) to evidence compliance. If the plan is not accepted, the company will have seven calendar days from the date of such determination to request an appeal hearing before a Listing Qualifications Panel. Zila’s common stock will continue to be traded on The Nasdaq Global Market while its plan is under review by Nasdaq and pending the resolution of any such appeal process. Alternatively, Zila may apply to transfer its securities to The NASDAQ Capital Market. The NASDAQ Capital Market, formerly the NASDAQ SmallCap Market, is a continuous trading market that operates in the same manner as The NASDAQ Global Market. All companies, whose securities are listed on The NASDAQ Capital Market must meet certain financial requirements and adhere to NASDAQ's corporate governance standards.
About Zila, Inc.
Zila, Inc., headquartered in Scottsdale, Arizona, is a diagnostic company dedicated to the prevention, detection and treatment of oral cancer and periodontal disease. Zila manufactures and markets ViziLite® Plus with TBlue® (“ViziLite® Plus”), the company’s flagship product for the early detection of oral abnormalities that could lead to cancer. ViziLite® Plus is an adjunctive medical device cleared by the FDA for use in a population at increased risk for oral cancer. In addition, Zila designs, manufactures and markets a suite of proprietary products sold exclusively and directly to dental professionals for periodontal disease, including the Rotadent® Professional Powered Brush, the Pro-Select Platinum® ultrasonic scaler and a portfolio of oral pharmaceutical products for both in-office and home-care use. All of Zila’s products are marketed and sold in the United States and Canada primarily through the company’s direct field sales force and telemarketing organization. The company’s products are marketed and sold in other international markets through the direct sales forces of third party distributors. Zila’s marketing programs reach most U.S. dental offices.
Contact:
Investors:
PondelWilkinson Inc.
Robert Jaffe, 310-279-5969
source: yahoo
In accordance with Nasdaq rules, Zila was given until April 7, 2009 to submit a plan to regain compliance with Nasdaq’s standards for continued listing. If the company submits a plan and it is accepted by the Listing Qualifications Department, Zila may be granted an exception of up to 105 calendar days from the date of the deficiency letter (i.e., until July 6, 2009) to evidence compliance. If the plan is not accepted, the company will have seven calendar days from the date of such determination to request an appeal hearing before a Listing Qualifications Panel. Zila’s common stock will continue to be traded on The Nasdaq Global Market while its plan is under review by Nasdaq and pending the resolution of any such appeal process. Alternatively, Zila may apply to transfer its securities to The NASDAQ Capital Market. The NASDAQ Capital Market, formerly the NASDAQ SmallCap Market, is a continuous trading market that operates in the same manner as The NASDAQ Global Market. All companies, whose securities are listed on The NASDAQ Capital Market must meet certain financial requirements and adhere to NASDAQ's corporate governance standards.
About Zila, Inc.
Zila, Inc., headquartered in Scottsdale, Arizona, is a diagnostic company dedicated to the prevention, detection and treatment of oral cancer and periodontal disease. Zila manufactures and markets ViziLite® Plus with TBlue® (“ViziLite® Plus”), the company’s flagship product for the early detection of oral abnormalities that could lead to cancer. ViziLite® Plus is an adjunctive medical device cleared by the FDA for use in a population at increased risk for oral cancer. In addition, Zila designs, manufactures and markets a suite of proprietary products sold exclusively and directly to dental professionals for periodontal disease, including the Rotadent® Professional Powered Brush, the Pro-Select Platinum® ultrasonic scaler and a portfolio of oral pharmaceutical products for both in-office and home-care use. All of Zila’s products are marketed and sold in the United States and Canada primarily through the company’s direct field sales force and telemarketing organization. The company’s products are marketed and sold in other international markets through the direct sales forces of third party distributors. Zila’s marketing programs reach most U.S. dental offices.
Contact:
Investors:
PondelWilkinson Inc.
Robert Jaffe, 310-279-5969
source: yahoo
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