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Nasdaq panel delists JMAR stock

San Diego-based JMAR Technologies Inc., a developer of laser-based technology and X-ray processes, announced the receipt of a notification from Nasdaq following the company’s appeal to a Nasdaq Listing Qualifications Panel on Dec. 14 that the company's common stock will be delisted from The Nasdaq Capital Market effective with the open of business on Tuesday, Dec. 26.

The Nasdaq notice stated that the panel’s determination was based on JMAR’s previously announced failure to satisfy the $1 bid price requirement and the $2.5 million shareholders’ equity requirement.

On the open of trading on Dec. 26, the company’s common stock will initially be quoted on the “Pink Sheets,” but the company expects that its shares will soon be quoted on the OTC Bulletin Board following the approval by the NASD of an application by one or more market makers to continue quoting in the company’s common stock.

Chief Executive Officer and President C. Neil Beer noted that the delisting from The Nasdaq Capital Market would not affect the company’s ability to conduct its business.

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