Montville, NJ-based Lucille Farms is in risk of being delisted from the Nasdaq SmallCap Market.
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The company received a Nasdaq Staff Determination, dated 28 March 2002, which indicated that it was not in compliance with the minimum US$2m net tangible assets requirement or the minimum US$2.5m stockholders’ equity requirement for continued listing set forth in Marketplace Rule 4310(c)(2)(B).
Lucille, which engaged in the manufacture and marketing of mozzarella cheese, has requested a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination.
There can be no assurance, however, that the panel will grant the company’s request for continued listing.
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