KELOWNA, British Columbia, Jan. 9, 2013 (GLOBE NEWSWIRE) -- As previously noted, DayStar Technologies Inc. (Nasdaq:DSTI) (the "Company") received notice from Nasdaq that it was not in compliance with Nasdaq's Listing Rules due to a failure to hold an annual meeting within one year of the end of the Company's fiscal year ending on December 31, 2011. DayStar notified Nasdaq that it believed it had complied with the Listing Rule since it held an annual meeting of stockholders on December 19, 2012. Daystar has been notified that the annual meeting held on December 19, 2012 did not meet the requirements of Nasdaq's Listing Rules because the Company did not file a Proxy Statement on Form 14A prior to the meeting. Nasdaq noted that since the Company did not meet the listing requirement it would continue with the previously announced procedures to delist the Company's securities. Nasdaq has offered the Company an opportunity to request a hearing to appeal this determination. The Company intends to request this hearing from Nasdaq. In the event the Company's appeal is denied, the Company's shares would qualify for listing on the OTCBB.
DayStar Technologies Receives Letter From Nasdaq
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