This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nexxus Lighting Announces Receipt Of NASDAQ Notification Letter

CHARLOTTE, N.C., Aug. 21, 2012 /PRNewswire/ -- Nexxus Lighting, Inc. (NASDAQ: NEXS) today announced that on August 15, 2012, it received a notification letter from the Listing Qualifications Department of The NASDAQ OMX Group ("NASDAQ") stating that due to the Company's inability to timely file its Form 10-Q for the period ended June 30, 2012 (the "2nd Quarter Form 10-Q"), the Company was not in compliance with NASDAQ Listing Rule 5250(c)(1). This notification was issued in accordance with standard NASDAQ procedures in connection with the Company's filing, on August 14, 2012, of a Notification of Late Filing on Form 12b-25 stating that the Company would not be able to timely file its 2nd Quarter Form 10-Q within the prescribed time period because the Company requires additional time to finalize its financial statements.  As previously disclosed, the Company is facing significant challenges in achieving profitability and is exploring strategic alternatives.  As a result of these challenges and efforts, the work necessary to finalize the 2nd Quarter Form 10-Q could not be completed in sufficient time to permit the timely filing of the 2nd Quarter Form 10-Q. 

The NASDAQ notification letter noted that the Company has until October 15, 2012 to submit a plan to NASDAQ to regain compliance with the applicable listing rule. Upon acceptance of the Company's compliance plan, NASDAQ may grant the Company an exception of up to 180 calendar days from the 2nd Quarter Form 10-Q's initial due date, or until February 11, 2013, to regain compliance with NASDAQ's filing requirements for continued listing.

The NASDAQ notice has no immediate effect on the listing or trading of the Company's common stock on The NASDAQ Capital Market.  The Company intends to file its 2nd Quarter Form 10-Q with the United States Securities and Exchange Commission as soon as practicable, and anticipates that such 2nd Quarter Form 10-Q will be filed no later than September 28, 2012.  If necessary, the Company will submit a plan to regain compliance with NASDAQ's filing requirements within the 60 day period.

About Nexxus Lighting, Inc.

Nexxus is a leader in high performance LED replacement light bulbs sold under its Array® Lighting line of products.  The Company holds 41 issued U.S. and foreign patents and 33 patent applications pending related to its Array® Lighting and Lumificient product offerings.  Nexxus is committed to leading edge design and introducing LED products that set the standard in the industry in terms of performance and reliability. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs