PhotoMedex Inc. said Nasdaq Stock Market LLC has given the company until March 10 to comply with the minimum stockholder equity listing requirement.
On Nov. 18, 2016, the company received a notice of noncompliance from the stock exchange after its reported stockholder equity for the period ended Sept. 30, 2016, failed to reach the minimum requirement of $2.5 million.
Nasdaq initially gave the company 45 days, or until Jan. 2, to submit a plan to regain compliance. The plan was filed with Nasdaq on Jan. 10, under a one-week extension due to the holiday period.
PhotoMedex is required to submit a report showing it achieved compliance by disclosing, among others, a description of the completed transaction or event that allowed it to satisfy the stockholders' equity requirement for continued listing on the Nasdaq Capital Market.