Message #4 From:
Stock News Bot Date: September 19, 2007 06:31:37 AM
Distributed Energy Reports Receipt of Notification From Nasdaq Regarding Non- Compliance With Continued Listing Requirements
WALLINGFORD, Conn., Sept. 18 /PRNewswire-FirstCall/ -- Distributed Energy
Systems Corp. (Nasdaq: DESC), which creates and delivers products and
solutions for the decentralized energy marketplace, reported today that on
September 14, 2007 it received a notification from the NASDAQ Listing
Qualifications Department providing notification that, for the last 30
consecutive business days, the bid price of its common stock has closed below
the minimum $1.00 per share requirement for continued inclusion under NASDAQ
Marketplace Rule 4450(a)(5). In accordance with NASDAQ Marketplace Rule
4450(e)(2), Distributed Energy has been provided 180 calendar days, or until
March 12, 2008, to regain compliance. To regain compliance, the bid price of
Distributed Energy's common stock must close at $1.00 per share or more for a
minimum of ten consecutive business days at any time before March 12, 2008.
If Distributed Energy does not regain compliance by March 12, 2008, it
will be notified by NASDAQ that its securities will be delisted. At that
time, Distributed Energy may appeal NASDAQ's determination to delist its
securities to a Listing Qualifications Panel. Alternatively, Distributed
Energy could at that time apply to transfer its securities to The Nasdaq
Capital Market if it satisfies the requirements for initial inclusion set
forth in NASDAQ Marketplace Rule 4310(c). If that application were approved,
Distributed Energy would be afforded the remainder of The NASDAQ Capital
Market's second 180 calendar day grace period in order to regain compliance
while on The Nasdaq Capital Market.
Distributed Energy Systems Corp. (Nasdaq: DESC) creates and delivers
products and solutions to the emerging decentralized energy marketplace,
giving users greater control over their energy cost, quality and reliability.
The company delivers a combination of practical, ready-today energy solutions
and the solid business platforms for capitalizing on the changing energy
landscape. For more information visit http://www.distributed-energy.com.
