The NYSE's continued listing standards require total market capitalization of not less than $50 million over a 30 trading day period and stockholders' equity of not less than $50 million, in addition to total market capitalization of not less than $15 million over a 30 trading day period. The NYSE's continued listing standards also require a minimum share price of $1 over a 30 trading day period.
The Exchange notes that it may make an appraisal of, and determine on an individual basis, the suitability for continued listing of an issue in light of all pertinent facts whenever it deems such action appropriate, and that the Exchange may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.
The trading halt will continue as the NYSE completes its evaluation of the continued listing status of the securities. Upon completion of its evaluation, the Exchange will either suspend the securities from trading or resume trading and continue to monitor events at the Company.
If the NYSE decides to suspend the securities, it would then apply to the SEC to delist the issues.