In accordance with the terms of the Panel's decision, on or before December 31, 2011, the company must implement a reverse stock split and demonstrate a closing bid price for its common stock above $1.00 per share for a minimum of ten consecutive trading days. The company must also be able to demonstrate compliance with all requirements for continued listing on NASDAQ. The company is seeking stockholder approval of a reverse stock split at its annual meeting of stockholders scheduled to be held November 30, 2011, with the ratio and timing of implementation of the reverse stock split at the discretion of the company's board of directors if the reverse stock split is approved by stockholders.
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