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Stocks Under $5 in Danger of Delisting

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GrayMark Healthcare (GRMH)

Company Profile: GrayMark Healthcare provides diagnostic sleep-testing services and care-management services for people with chronic sleep disorders.

Current Share Price: 75 cents (Feb. 28)

Listing Violation: Bid price. The listing rule requires that a company maintains a minimum closing bid price of $1 per share for its common stock. GrayMark shares last closed above $1 on Dec. 22.

Received Nasdaq Notice: Feb. 4

Management's Expected Action: GrayMark has until Aug. 3 to regain compliance with the minimum bid price requirement. It seems as though the company will effect a reverse stock split before that time. On Feb. 1, shareholders owning a combined 53.8% of GrayMark's outstanding stock approved a reverse stock split in one of five ratios. The exact ratio of the reverse stock split will be determined by the company's board of directors.






Rosetta Genomics (ROSG)

Company Profile: Rosetta Genomics develops and commercializes new diagnostic tests based on microRNAs, which the company says play an important role in normal function and in various pathologies.

Current Share Price: 55 cents (Feb. 28)

Listing Violation: Bid price. The listing rule requires that a company maintains a minimum closing bid price of $1 per share for its common stock. Rosetta Genomics shares last closed above $1 on Dec. 22. The company was hit in December with a separate delisting warning related to market value, equity and net income.

Received Nasdaq Notice: Feb. 7

Management's Expected Action: Rosetta Genomics has until Aug. 8 to regain compliance with the minimum bid price requirement. While the company did not offer any indication of what it may do to regain compliance with the rule, Rosetta Genomics did note that the Nasdaq provided the company with an extension of a deadline to meet the market value, equity and net income requirement. The company must achieve certain milestones toward regaining compliance by Feb. 28 and April 29.

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