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ASTEA INTERNATIONAL INC FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

August 26, 2014

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing



On August 20, 2014, The NASDAQ Stock Market LLC ("NASDAQ") issued a letter granting the Company an extension until October 6, 2014 to regain compliance with Listing Rule 5550(b)(1), which requires listed companies to maintain a minimum of $2.5 million in stockholders' equity. Previously, the Company had been required to demonstrate compliance with the minimum $2.5 million stockholders' equity requirement in the Company's Form 10-Q for the quarter ended June 30, 2014. However, when the Company realized that its stockholders' equity as of June 30, 2014 would be only $1.65 million, it requested a further extension from NASDAQ, which was granted.

If the Company does not regain compliance with the minimum stockholders' equity requirement by October 6, 2014 and evidence such compliance on its periodic report ending September 30, 2014, the Company may be subject to delisting from NASDAQ. In the event the Company does not satisfy the requirement and subsequently receives written notification that it will be delisted, it may appeal the Staff's determination to a Hearings Panel.

The Company currently expects that it will meet the minimum stockholders' equity requirement on or before October 6, 2014 and that such compliance will be evidenced in the Company's Form 10-Q for the quarter ending September 30, 2014.

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Source: Edgar Glimpses


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