(a) On September 15, 2009, Analysts International Corporation (the Company) received a letter from The Nasdaq Stock Market (Nasdaq) notifying the Company that the bid price of its listed securities has closed below $1.00 per share for the last thirty (30) consecutive business days. Consequently, a deficiency exists with regard to the minimum $1.00 per share requirement of Nasdaq Listing Rule 5450(a)(1) (the Rule). The Company has until March 15, 2010 (the Grace Period) to achieve compliance with the Rule by maintaining a minimum closing bid price of at least $1.00 for a minimum of ten (10) consecutive business days. In the event the Company does not regain compliance with the Rule prior to the expiration of the Grace Period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of bid price, for The Nasdaq Capital Market. The Nasdaq letter was issued in accordance with standard Nasdaq procedures.
In compliance with Nasdaqs Listing Rule 5810(b), the Company issued a press release on September 18, 2009 to announce that the Company received the notice. A copy of the Companys press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
|
Exhibit Number |
|
Description |
|
|
|
|
|
99.1 |
|
Press release entitled, Analysts International Corporation Receives Nasdaq Notification Letter issued by Analysts International Corporation on September 18, 2009 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Date: September 18, 2009 |
ANALYSTS INTERNATIONAL CORPORATION |
|
|
|
|
|
|
|
|
/s/ Robert E. Woods |
|
|
Robert E. Woods |
|
|
Senior Vice President, General Counsel and Secretary |
EXHIBIT INDEX
|
Exhibit Number |
|
Description |
|
|
|
|
|
99.1 |
|
Press release entitled, Analysts International Corporation Receives Nasdaq Notification Letter issued by Analysts International Corporation on September 18, 2009 |