Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > ViRexx Receives Delisting Notification From AMEX Regarding Non-Compliance With Listing Standards

Abstract:
- ViRexx Medical Corp. (TSX:VIR) (AMEX:REX), a company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living. Its platform technologies include product candidates for the treatment of Hepatitis B, Hepatitis C, avian influenza viral infections, biodefence and nanoparticle applications, select solid tumors and late-stage ovarian cancer, received notification from the American Stock Exchange ("AMEX" or "Exchange") that the Company's plan to regain compliance with ongoing listing standards of the AMEX was not accepted and intends to initiate the delisting process unless the Company submits an appeal by August 29, 2008.

ViRexx Receives Delisting Notification From AMEX Regarding Non-Compliance With Listing Standards

Edmonton, AB, Canada | Posted on August 28th, 2008

Since submitting the plan, the Company has also fallen out of compliance with an additional listing standard. Specifically, the Company is not in compliance with Section 1003(f)(iv) of the Company Guide which states that the Exchange will normally consider suspending dealings in or removing from the list, a company that fails or refuses to pay, when due, any applicable listing fees established by the Exchange. The Company satisfied its outstanding balance payable to the Exchange for listing fees on August 28, 2008.

On May 6, 2008, the Company received notification from the AMEX that it was no longer in compliance with certain of the AMEX's continued listing standards set forth in Part 10 of the AMEX Company Guide ("Company Guide") and the Company has therefore become subject to the procedures and requirements of Section 1009 of the Company Guide.

Specifically, the Company is not in compliance with Section 1003(a)(i) of the Company Guide with stockholders' equity of less than $2,000,000 and losses from continuing operations and/or net losses in two out of its three most recent fiscal years, Section 1003(a)(ii) of the Company Guide with stockholders' equity of less than $4,000,000 and losses from continuing operations and/or net losses in three out of its four most recent fiscal years, Section 1003(a)(iii) of the Company Guide with stockholders' equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years, and Section 1003(a)(iv) of the Company Guide in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the AMEX, as to whether such company will be able to continue operations and/or meet its obligations as they mature.

In order to maintain its AMEX listing, the Company submitted a plan to the AMEX addressing how it intends to regain compliance with Section 1003(a)(iv) of the Company Guide by November 6, 2008 and Sections 1003(a)(i), (ii), (iii) of the Company Guide by November 6, 2009.

The Company has submitted an application for appeal prior to the August 29, 2008 deadline.

####

About ViRexx Medical Corp.
ViRexx is a Canadian-based development-stage biotech company focused on developing innovative-targeted therapeutic products that offer better quality of life and a renewed hope for living. Our platform technologies include product candidates for the treatment of Hepatitis B, Hepatitis C, avian influenza viral infections, biodefence and nanoparticle applications, select solid tumors and late-stage ovarian cancer.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.

The TSX has not approved or disapproved of the information contained herein.

For more information, please click here

Contacts:
ViRexx Medical Corp.
Darrell Elliott
Chairman and Chief Executive Officer
(780) 433-4411
(780) 436-0068 (FAX)

or
ViRexx Medical Corp.
Brent Johnston
Chief Financial Officer
(780) 433-4411
(780) 436-0068 (FAX)

Copyright © Marketwire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

MEMS & Sensors Technology Showcase: Finalists Announced for MEMS Executive Congress US 2014 October 23rd, 2014

Nanoparticle technology triples the production of biogas October 23rd, 2014

Investments/IPO's/Splits

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Nanomedicine

NYU Researchers Break Nano Barrier to Engineer the First Protein Microfiber October 23rd, 2014

Iranian Scientists Apply Nanotechnology to Produce Surgery Suture October 23rd, 2014

RF Heating of Magnetic Nanoparticles Improves the Thawing of Cryopreserved Biomaterials October 23rd, 2014

Sopping up proteins with thermosponges: Researchers develop novel nanoparticle platform that proves effective in delivering protein-based drugs October 22nd, 2014

Announcements

Haydale Secures Exclusive Development and Supply Agreement with Tantec A/S: New reactors to be built and commissioned by Tantec A/S represent another step forward towards the commercialisation of graphene October 24th, 2014

QuantumWise guides the semiconductor industry towards the atomic scale October 24th, 2014

Advancing thin film research with nanostructured AZO: Innovnano’s unique and cost-effective AZO sputtering targets for the production of transparent conducting oxides October 23rd, 2014

Strengthening thin-film bonds with ultrafast data collection October 23rd, 2014

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE