On April 10, 2017, Bioptix, Inc. (the “Company”) received a notice of deficiency from The Nasdaq Stock Market (“Nasdaq”) indicating that the Company is not in compliance with Nasdaq’s audit committee requirements as set forth in Nasdaq Listing Rule 5605.

Nasdaq Listing Rule 5605 requires that the Company’s audit committee be comprised of at least three independent directors. The Company’s non-compliance results from the appointment of Mr. Michael M. Beeghley, the Company’s current Chairman and member of the audit committee, to the position of Chief Executive Officer, effective April 6, 2017. Due to Mr. Beeghley’s appointment to the position of Chief Executive Officer he is no longer independent, resulting in the audit committee being currently comprised of two independent members.

Consistent with Listing Rule 5605(c)(4), Nasdaq has provided the Company a cure period to regain compliance as follows:

– until the earlier of the Company’s next annual shareholders’ meeting or April 6, 2018; or

– if the next annual shareholders’ meeting is held before October 3, 2017, then the Company must evidence compliance no later than October 3, 2017.

The Company expects to regain compliance prior to the end of the cure period by appointing an additional independent director to the Company’s Board of Directors and audit committee.

About Bioptix, Inc. (NASDAQ:BIOP)

Bioptix, Inc., formerly Venaxis, Inc., provides Enhanced Surface Plasmon Resonance (SPR) platform for the detection of molecular interactions. The Company’s line of Enhanced SPR instruments are designed to increase the flexibility and reliability of SPR. Its SPR biosensors shed light on important binding parameters that are crucial for determining whether a biologic or small molecule drug will be efficacious in humans and at what dose a drug should be administered. Its technology is an ultra-sensitive detection platform. The design of its SPR spectrometers allows discrete areas within the sample cell to be interrogated simultaneously by use of photo-diode arrays aligned to the reflected beam from the sample cell. Its biosensors provide information on kinetic processes (association and dissociation), binding affinities, analyte concentrations and real-time molecule detection. The Company offers 404pi Enhanced SPR System, which enables real-time detection of biomolecular interactions.

Bioptix, Inc. (NASDAQ:BIOP) Recent Trading Information

Bioptix, Inc. (NASDAQ:BIOP) closed its last trading session down -0.11 at 4.02 with 15,447 shares trading hands.