What factors does the Panel consider when deciding whether to continue the listing of a company that has filed for bankruptcy protection?
The Panel will delist the company if the company cannot demonstrate that it is in compliance with NASDAQ’s listing requirements or that it will regain compliance within a reasonable period of time. In that regard, the Panel will request that the company provide current financial statements demonstrating compliance with the NASDAQ listing requirements as well as projected income statements indicating that the company will be able to sustain compliance. With respect to future compliance, the Panel will principally focus on whether the projected loss rate is such that it appears unlikely the company will be able to sustain compliance with the stockholders’ equity requirement for the next twelve months (assuming the company does not meet one of the equity listing alternatives such as market value of listed securities or net income from continuing operations in the current fiscal year or two of the three previous fiscal years). In addition to a demonstration that the company can sustain com
