The impairment charges and resulting net loss previously reported for the fiscal year ended December 31, 2008 reduced the company’s stockholders’ equity to $74.1 million, and the company’s average global market capitalization for the past thirty trading days has been below $75 million. Under the applicable NYSE procedures, the company has forty-five days from the receipt of such notice to submit a cure plan to the NYSE. This plan must demonstrate the company’s ability to achieve compliance with the continued listing standards within the next eighteen months. The company intends to submit a plan that will demonstrate compliance with the listing standard related to maintaining stockholders’ equity of at least $75 million within the required time frame.
