North Coast Solar Stocks

September 18, 2009

DayStar Receives NASDAQ Deficiency Notice Relating to Minimum Bid Price

Filed under: DSTI — Tags: , , , — Jason @ 6:19 pm

Friday September 18, 2009, 6:19 pm EDT

SANTA CLARA, Calif., Sept. 18 /PRNewswire-FirstCall/ — DayStar Technologies, Inc. (DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology, announced today that on September 15, 2009 it received a NASDAQ Staff Deficiency Letter from The NASDAQ Stock Market. The NASDAQ Letter states that for the last 30 consecutive business days, the closing bid price per share for the Company’s common stock has been below the $1.00 minimum per share requirement for continued inclusion under NASDAQ Marketplace Rule 5550(a)(2).

In accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), DayStar will be provided 180 calendar days, or until March 15, 2010, to regain compliance by maintaining a closing bid price per share of $1.00 or higher for a minimum of 10 consecutive business days. If DayStar is unsuccessful in meeting the minimum bid requirement during this initial compliance period, the Company will receive written notification from NASDAQ that its securities are subject to delisting, and at that time the Company may appeal the delisting determination to a Hearing’s Panel. Alternatively, the Company may be eligible for an additional grace period of 180 calendar days if the Company meets the initial listing standards, with the exception of bid price, for The NASDAQ Capital Market. The NASDAQ Letter received on September 15, 2009 has no effect on the listing of the Company’s common stock at this time. The Company will seek to regain compliance within this cure period and is considering appropriate business measures to address compliance with the continued listing standards of The NASDAQ Stock Market.

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