Charles & Colvard LTD recieve notice

[dimetime]

The sole source of moissanite is Charles & Colvard LTD. Moissanite is used in fine jewerly. recieved a notice on the 18th of August from the Listing Qualifications division of the NASDAQ stock market.
This notice indicates that the Charles & Colvard LTD companies common stock may be delisted from the NASDAQ global stock market because for the past thirty consectuive business days, the price bid of the common stocks of the company closed below the minimum of one dollar per share which is required by the marketplace rule 4450(a)(5).
This rule indicated that Charles & Colvard LTD will be given 180 days or until the middle of February of 09' to regain compliance. If before the February deadline the price of the common stock closes at one dollar per share or above for at least ten consecutive business days, NASDAQ's stall will give a written notice that they common stock has achieved compliance with rule 4450(a)(5).
If compliance is not regained before the deadline, NASDAQ's staff will give written notification that its securities will be delisted. If this does happen the company will be able to appeal NASDAQ's staff's to delist the companys securities to a Listing Qualifications Panel or another consideration which Charles & Colvard may consider is moving the securities to the NASDAQ Capital Market, if it is able to satisfy the requirements for inital inclusion stated in Marketplace rule 4310(c). If this is approved Charles & Colvard will be given the full 180 days to regain complaince in the NASDAQ Capital Market.

[moneysense]

I would suppose that the economy right now has a lot to do with their stocks being down. I dont think that there would be a lot of sales in fine jewelery therefore no need for the moissante.

I also was not aware that there was a limit on the amount of worth for a stock to bring in to be included in the list.

[dimetime]

I agree the state of the economy right now has alot to do with Charles & Colvard LTD. Not many people are able to afford fine jewerly right now. Though hopefully soon there will be a swift recovery of the economy and the people will be able to afford more of the finer things in life.