NAS receives Nasdaq notice

The Nasdaq stock exchange has notified North American Scientific that the Chatsworth, CA-based company does not comply with the minimum $10 million stockholders' equity requirement under the stock exchange's standards.

The notice, dated September 21, also notes that the radiation therapy technology developer does not comply with the minimum $50 million market value of listed securities.

Under Nasdaq requirements, NAS will submit a plan to achieve and sustain compliance with all Nasdaq Global Market listing requirements, including the minimum stockholders' equity standard.

Nasdaq will review the proposal and determine if it is satisfactory to reach compliance in the short term and sustain compliance in the long term.

By staff writers
September 25, 2007

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NAS signs deal to sell Nomos unit, September 12, 2007

NAS names Barring as COO, September 7, 2007

North American Scientific to divest Nomos unit, August 3, 2007

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