Medical device maker Stereotaxis Inc. received a notification on March 20 from the Nasdaq Stock Market that the company was not in compliance with the market’s rule that it must have $50 million in total assets and total revenues for the most recently completed fiscal year or for two of the last three most recently completed fiscal years. In addition, according to a Nasdaq letter, Stereotaxis does not comply with an alternative listing rule requirement for continued listing on the Nasdaq Global Market because the company’s stockholders’ equity is less than $10 million and the market value of listed securities of the company is less than $50 million. In its notice, Nasdaq stated that the company may provide a plan to regain compliance with the continued listing requirements by May 6. If Nasdaq accepts the plan, it can grant an extension of up to 180 calendar days from the date of the letter (through Sept. 16).
