Jmar appealing delisting

San Diego Business Journal, Nov 20, 2006 by Katie Weeks

Jmar Appealing Delisting: Jmar Technologies Inc., a San Diego firm that develops medical imaging technology with nanoscale capabilities, received a final delisting notice this month from the Nasdaq stock exchange, on which it trades under the symbol JMAR.

The company's notice came as a result of its stock trading under the minimum price of $1 for too long. Jmar's announcement came Nov. 13. On Nov. 14, the firm's stock closed down nearly 7 percent, or at 27 cents.

Nasdaq issues warnings if a stock trades under $1 for more than 30 consecutive days. Companies can regain compliance by maintaining shares at $1 or higher for 10 consecutive days within the 180 days that follow the warning letter. There are certain circumstances under which firms may request another 180 days, according to Nasdaq.

Jmar received its first warning in May and its first 180 days was up this month. The company said it planned to request an appeal hearing.

Jmar's flagship product is BioSentry, a contamination warning system for waterborne microorganisms. Another product is its BrightLight laser, which is the X-ray light source in nanolithography systems, which can be used, for example, to encrypt identification on drugs to prevent counterfeiting. Jmar's target markets include the pharmaceutical industry, nanotechnology, bioscience, municipal water utilities, the cruise industry and for homeland security.

Contact Katie Weeks with biotechnology news at kweeks@sdbj.com, or call her at (858) 277-6359.