Chyron receives delisting notice from NASDAQ
For the second time in the past few months, graphics company Chyron has received a delisting warning notice from NASDAQ.
The company previously received the notice in November 2012 because its share price fell below $1.00 for more than 30 days.
This time, however, the issue was issued due to Chyron failing to maintain a minimum of $10 million in stockholder equity, as reported on the company’s 10-K filing for the fiscal year ending Dec. 31, 2012.
Chyron’s stock won’t be immediately be yanked from NASDAQ, however. It has 45 days from the date the notice was issued to submit a plan to NASDAQ to regain compliance. If accepted, Chyron may be granted up to 180 additional days to provide evidence of compliance.
If Chyron’s plain fails to gain approval, it could transfer its stock to the NASDAQ Capital Market, which has lower equity requirements. Otherwise, the company could face delisting.
Chyron representatives say the company plans to submit an outline to regain compliance.