HEI receives notice of non-compliance with the Nasdaq national market listing requirements
Dec 11, 2006
HEI, Inc. (Nasdaq: HEII) ("HEI" or the "Company") received notice on December 5, 2006 from the Listing Qualifications Department of The Nasdaq Stock Market indicating that, based on the Company's Form 10-K for the fiscal year ended September 2, 2006, the Company's stockholders' equity did not comply with the minimum $10,000,000 stockholders' equity requirement for continued listing on The Nasdaq Global Market as set forth in Marketplace Rule 4450(a)(3).
The Company is considering its options to regain compliance; including applying to transfer its common stock to The Nasdaq Capital Market if the Company satisfies the requirements for inclusion on The Nasdaq Capital Market. The application to transfer the Company's listing to The Nasdaq Capital Market, along with applicable applications fees, would be due by December 20, 2006.