Forbes Medi-Tech Appeals NASDAQ Listing Suspension
The Nasdaq Staff Deficiency determination indicated that the Company does not meet The Nasdaq Capital Market initial listing standard as set forth in Listing Rule 5505.
15 Jan 2010 --- Forbes Medi-Tech Inc. has provided The Nasdaq with a notice of appeal of the Nasdaq Staff Deficiency determination to a Hearings Panel.
The Nasdaq Staff Deficiency determination indicated that the Company does not meet The Nasdaq Capital Market initial listing standard as set forth in Listing Rule 5505.
The Company will be preparing a plan to regain compliance with the NASDAQ initial listing standard and will be submitting the plan to the Panel.
If the Company's appeal is not successful, the Company intends to make application to have the Company's securities eligible to trade on the OTC Bulletin Board.
Forbes Medi-Tech Inc. is a life sciences company focused on evidence-based nutritional solutions. A leader in nutraceutical technology, Forbes is a provider of value-added products and cholesterol-lowering ingredients for use in functional foods and dietary supplements. Forbes successfully developed and commercialized its Reducol plant sterol blend, which has undergone clinical trials in various matrices and has been shown to lower "LDL" cholesterol levels safely and naturally.
