NAS receives non-compliance notice from Nasdaq

Nasdaq has indicated that North American Scientific (NAS) has failed to regain compliance with the minimum $1 bid price per share requirement within the 180 calendar-day compliance period, which ended on April 2.

Nasdaq also noted that the Chatsworth, Calif.-based NAS is not eligible for an additional 180 calendar-day compliance period given that it does not meet the Nasdaq capital market initial inclusion criteria of $15 million market value of publicly held shares.

Therefore, the company's common stock is subject to delisting from the Nasdaq capital market at the opening of business on April 15.