Cyanotech Corporation of Kailua Kona, Hawaii (Nasdaq: CYAN), a producer of high-value natural products from microalgae, has announced that the Nasdaq Listing Qualifications Panel (“Panel”) has determined that Cyanotech has evidenced compliance with all requirements necessary for continued listing on the Nasdaq SmallCap Market.
In a letter dated November 26, 2003, the Panel stated, “As of the close of business on November 25, 2003, the Company demonstrated a closing bid price of at least $1.00 per share for 13 consecutive trading days. Accordingly, the Panel determined to continue the listing of the Company’s securities on the Nasdaq SmallCap Market.”
“I am gratified that the Nasdaq Listing Qualifications Panel has determined in favor of allowing our stock to remain listed on the SmallCap Market,” commented Gerald R. Cysewski, Ph.D., Chairman, President and Chief Executive Officer. “With this issue resolved our Company can now put its full attention towards our commitment to achieve sustainable growth and return to profitability. I believe this focus on operations is a solid foundation for providing lasting value to our shareholders. We have made excellent progress during this past year and will continue to keep our efforts focused on our bottom line.”
See related story on Aquafeed.com News 09/16/2003 "Nasdaq delists Cyanotech" : http://www.aquafeed.com/article.php?id=448