Nephros faces Amex delisting

By Elaine Rigoli

Tampa, Fla., July 21 - Nephros, Inc. has received notice from the American Stock Exchange that the company is not in compliance with certain conditions for continued listing.

Specifically, Amex noted Nephros' failure to comply with requirements related to shareholders' equity of less than $4 million and losses from continuing operations and/or net losses in three out of its four most recent fiscal years and relating to shareholders' equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.

The notice was based on a review of Nephros' Form 10-QSB for the three months ended March 31, 2006, which publicly disclosed the financial status of the company at that time.

Nephros said it will submit a plan of compliance by Aug. 17.

Nephros, based in New York, is a medical device company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.