AMDL notified by American Stock Exchange that it doesn't meet listing standards

By E. Janene Geiss

Philadelphia, May 3 - AMDL, Inc. said Wednesday it received a letter on April 26 from the American Stock Exchange informing the company that based on a review of form 10-KSB for the year ended Dec. 31, 2005, the company did not meet certain standards for continued listing.

Specifically, AMDL did not meet the requirement of shareholders' equity of $4 million and AMDL had losses from continuing operations in three out of its four most recent fiscal years, according to a company news release.

In the letter, the exchange gave AMDL until May 26 to submit a plan of action that would bring AMDL into compliance with the standards.

AMDL said it intends to submit a plan that the company anticipates will bring AMDL into compliance with the standards.

"Our plan is expected to increase shareholder equity through the completion of prospective acquisitions, to further our efforts on gaining U.S. regulatory clearance to market DR-70 in the United States and the potential for raising additional capital," Gary Dreher, chief executive officer, said in the release.

During the period of implementation of the plan, AMDL said it will continue to be listed on the American Stock Exchange.

AMDL is a Tustin, Calif., theranostics company involved in the detection and treatment of cancer.

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