BSD Medical Corporation (BSDM) Receives Approval to Transfer Listing to NASDAQ Capital Market
23 April 2014 - 2:15PM
Business Wire
BSD Medical Corporation (NASDAQ:BSDM) (Company or BSD)
(www.BSDMedical.com), a leading provider of medical systems that
utilize heat therapy to treat cancer, today announced that the
Company received approval from The NASDAQ Stock Market (“NASDAQ”)
to transfer its stock listing from The NASDAQ Global Market to The
NASDAQ Capital Market, effective with the opening of the
market on April 25, 2014. The Company’s common stock will continue
to trade under the symbol “BSDM.” The NASDAQ Capital Market is a
continuous trading market that operates in substantially the same
manner as The NASDAQ Global Market.
As previously disclosed on April 18, 2014, the Company was not
in compliance with the NASDAQ's Global Market minimum stockholder’s
requirement to maintain a minimum of $10,000,000 in stockholders’
equity. BSD reported stockholders’ equity of $9,579,498 in its 10-Q
for the period ended February 28, 2014. NASDAQ gave the Company the
option to apply to transfer the listing of its common stock from
The NASDAQ Global Market to The NASDAQ Capital Market or submit to
NASDAQ a plan to regain compliance on The NASDAQ Global Market.
“We decided a transfer to The NASDAQ Capital Market was the most
prudent and efficient use of our resources,” said William Barth,
Chief Financial Officer of BSD Medical. “We are pleased to maintain
our NASDAQ listing and to have resolved this matter quickly. Our
move to The NASDAQ Capital Market will have no bearing on the
trading of our stock.”
About BSD Medical Corporation
BSD Medical Corporation develops, manufactures, markets and
services systems to treat cancer and benign diseases using heat
therapy, which is delivered using focused radiofrequency (RF) and
microwave energy. BSD’s product lines include both hyperthermia and
ablation treatment systems. BSD’s hyperthermia cancer treatment
systems, which have been in use for several years in the United
States, Europe and Asia, are used to treat certain tumors with heat
(hyperthermia) while increasing the effectiveness of other
therapies such as radiation therapy. BSD’s microwave ablation
system has been developed as a stand-alone therapy to employ
precision-guided microwave energy to ablate (destroy) soft tissue.
The Company has developed extensive intellectual property, multiple
products in the market and established distribution in the United
States, Europe and Asia. Certain of the Company’s products have
received regulatory approvals and clearances in the United States,
Europe and China. For further information visit BSD Medical's
website at www.BSDMedical.com.
This press release may be deemed to contain forward-looking
statements, which are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Readers are
cautioned that these forward-looking statements are only
predictions and may differ materially from actual future events or
results due to a variety of factors, including, among other things,
the demand for the Company’s products, the ability of the Company
to produce the products to meet the demand, global economic
conditions and uncertainties in the geopolitical environment and
other risk factors set forth in the Company’s most recent reports
on Form 10-K and Form 10-Q. Any forward-looking statements in this
release are based on limited information currently available to the
Company, which is subject to change, and the Company will not
necessarily update the information.
BSD Medical CorporationWilliam Barth, 801-972-5555Fax:
801-972-5930investor@bsdmc.com