CAS MEDICAL SYSTEMS, INC. (NASDAQ:CASM) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
CAS MEDICAL SYSTEMS, INC. (NASDAQ:CASM) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On June 14, 2017, CAS Medical Systems, Inc. (the “Company”) received a deficiency letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company, as a result of not having a market value of listed securities (“MVLS”) of at least $35 million for 30 consecutive business days, is no longer in compliance with Listing Rule 5550(b) of the Nasdaq Listing Rules (the “Rules”) for continued listing.
Under the Rules, the Company has until December 11, 2017 to regain compliance, which would occur if the Company’s MVLS equals or exceeds $35 million for ten consecutive business days. If the Company fails to regain compliance by such date, the Company has the opportunity to appeal such decision to a Nasdaq Hearings Panel.
At this time, this notification has no effect on the listing of the Company’s common stock on The Nasdaq Capital Market.
About CAS MEDICAL SYSTEMS, INC. (NASDAQ:CASM)
CAS Medical Systems, Inc. is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products for patient care. The Company designs, manufactures and distributes the FORE-SIGHT and FORE-SIGHT ELITE brand tissue oximeters and sensors. It also sells various legacy products called Traditional Monitoring, which includes non-invasive blood pressure measurement technologies, neonatal medical disposables and service sales. It operates through two categories of sales: Tissue Oximetry Monitoring, which includes sales of its FORE-SIGHT tissue oximeter monitors, sensors and accessories, and Traditional Monitoring, which includes sales of its legacy products comprising the original equipment manufacturer (OEM) sales of its non-invasive blood pressure technology (MAXNIBP and MAXIQ), and monitor service and repair. The FORE-SIGHT Tissue Oximeter technology provides clinicians a non-invasive, quantitative measurement of oxygenation in cerebral tissue.
CAS Medical Systems, Inc. is a medical technology company that develops, manufactures and markets non-invasive patient monitoring products for patient care. The Company designs, manufactures and distributes the FORE-SIGHT and FORE-SIGHT ELITE brand tissue oximeters and sensors. It also sells various legacy products called Traditional Monitoring, which includes non-invasive blood pressure measurement technologies, neonatal medical disposables and service sales. It operates through two categories of sales: Tissue Oximetry Monitoring, which includes sales of its FORE-SIGHT tissue oximeter monitors, sensors and accessories, and Traditional Monitoring, which includes sales of its legacy products comprising the original equipment manufacturer (OEM) sales of its non-invasive blood pressure technology (MAXNIBP and MAXIQ), and monitor service and repair. The FORE-SIGHT Tissue Oximeter technology provides clinicians a non-invasive, quantitative measurement of oxygenation in cerebral tissue.