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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aileron Therapeutics Inc | NASDAQ:ALRN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.06 | 2.14% | 2.87 | 1.01 | 4.32 | 3.15 | 2.69 | 2.69 | 229,536 | 01:00:00 |
New York
(State or other jurisdiction of incorporation) |
0-14807
(Commission File Number) |
11-2601199
(IRS Employer Identification No.) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 3.01 | Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. |
On August 31, 2010, American Learning Corporation (the Company) received notification from The Nasdaq Stock Market (Nasdaq) that it has not regained compliance with The Nasdaq Capital Markets minimum bid price requirement for continued listing, set forth in Nasdaq Listing Rule 5550(a)(2) and, unless the Company appeals Nasdaqs decision, trading of the Companys common stock will be suspended at the opening of business on September 9, 2010, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Companys securities from listing and registration on The Nasdaq Capital Market. | |||
Accordingly, on September 2, 2010, the Company submitted an appeal of the Nasdaq Staff determination to Nasdaqs Hearing Panel (the Panel) pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. The hearing request will stay the suspension of the Companys securities and the filing of the Form 25-NSE pending the Panels decision. In response to the Company's request, the Nasdaq Office of General Counsel has scheduled a hearing for October 7, 2010 at which time the Company must demonstrate its ability to regain compliance with the minimum bid price requirement. There can be no assurance that the Panel will grant the Companys request for continued listing. | |||
On September 3, 2010, the Company issued a press release announcing the NASDAQ notification letter. The press release is attached hereto as Exhibit 99.1. This information shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date of this report, regardless of any general incorporation language in the filing. |
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit 99.1 | Press Release of American Learning Corporation, dated September 3, 2010. |
2
AMERICAN LEARNING CORPORATION
|
||||
Date: September 3, 2010 | By: | /s/ Gary Gelman | ||
Gary Gelman | ||||
President and Chief Executive Officer | ||||
3
Exhibit No. | Description | |||
99.1 |
Press Release of American Learning Corporation, dated September 3, 2010.
|
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