quote:Originally posted by Topcat: Time to protect your money !!
Glad I got out 2 weeks ago at .28
Notice of Delisting or Transfer
ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING. On February 2, 2006 Calypte Biomedical Corporation (the "Company") received a letter from the American Stock Exchange (the "Exchange") notifying the Company that it does not satisfy certain of the Exchange's continued listing standards as set forth in Part 10 the American Stock Exchange Company Guide (the "Company Guide") and that the Exchange staff has, therefore, determined to initiate delisting proceedings with respect to the Company's common stock.
Specifically, the Exchange noted that the Company is not in compliance with Section 1003(a)(i) with shareholders' equity of less than $2,000,000 and losses from continuing operations and/or net losses in two out of its three most recent fiscal years; Section 1003(a)(ii) with shareholders' equity of less than $4,000,000 and losses from continuing operations and/or net losses in three out of its four most recent fiscal years; Section 1003(a)(iii) with shareholders' equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years; and Section 1003(a)(iv) with losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature.
The Company has until February 10, 2006 to request an appeal of the Exchange's determination, and plans to request a hearing before a committee of the Exchange. The Company expects that such a hearing would be scheduled within 45 days of its request. There can be no assurance that the Company's appeal will result in the continued listing of its common stock on the Exchange. If its common stock is delisted from the Exchange after the hearing, it would likely trade on the NASD Over the Counter Bulletin Board.
This is a good thing....stocks that get delisted open for nothing then shoot up huge!
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Calypte Receives African Order for Aware(TM) HIV-1/2 Oral Fluid Rapid Tests
MineSeeker to Supply AIDS Tests in Africa
LAKE OSWEGO, Ore., July 13 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (Amex: HIV) (the "Company"), medical diagnostic tests manufacturer for the professional point of care (PRO) and over the counter (OTC) segments of the market for the detection of antibodies to the human immunodeficiency virus (HIV), announced today that it has received an initial order for 35,500 units of its Aware(TM) HIV-1/2 oral fluid rapid test. This initial order has been placed through Gennaria Comercio International Lda on behalf of MineSeeker Foundation and will be sold through Calypte's exclusive distributors in Africa once final destinations are known. Calypte currently has approval to sell its rapid oral fluid test in South Africa and Kenya. Based on Calypte's communications with MineSeeker, this is the first firm order of a series of orders totaling 1.0 million tests that MineSeeker intends placing with Calypte over the next 12 months.
Gennaria represents several humanitarian organizations, including MineSeeker, which plans to launch a large-scale HIV testing initiative in Africa beginning this September.
Nelson Mandela said: "As a patron of MineSeeker, I totally support the AIDS test initiative. The tests will remove the fear of many people who believe they may be infected and who are nervous about blood testing. Fear is a terrible affliction, whether it is the fear of treading on a mine or the fear not knowing if you are HIV positive."
Roger I. Gale, Calypte's Chairman and Chief Executive Officer commented, "We have long believed we have been developing an effective solution in the battle against HIV/AIDS with a non-invasive rapid diagnostic test. Now that we are receiving approvals in HIV-stricken areas in Sub-Saharan Africa, we are targeting humanitarian organizations that want to make significant contributions in the fight against AIDS."
Mr. Mike Kendrick, founder of MineSeeker, stated, "The intended first order of 1 million tests is part of a larger MineSeeker initiative to deliver 5 million HIV oral fluid rapid tests to Africa. The purchase of the initial 1 million Aware(TM) HIV-1/2 oral swab rapid tests will be donated to NGOs for distribution in the field or sold, at cost."
Mr. Kendrick continued, "While the primary objective of MineSeeker is the eradication of land mines, we are also committed to the regeneration of the local communities. Without that, the clearance of mines is only part of the answer. Land will be returned to the people to grow food and a foster management program installed to help re-establish themselves. This will mean growing good quality crops that will lift the natural immunity system -- particularly helping AIDS sufferers. The introduction of the Aware(TM) product will help re-build the confidence of these communities."
About MineSeeker Foundation:
The MineSeeker Foundation (www.mineseeker.com) is primarily involved with the removal of land mines. The foundation has a new initiative, the 'Sole of Africa' initiative, which includes returning mine free land back to agriculture and an educational and empowerment program that trains local people to farm and vocational training for people unable to find work, including land mine and AIDS victims.
The MineSeeker Foundation Patrons include Nelson Mandela, Sir Richard Branson, Queen Noor of Jordon, Graca Machel, John Paul Dejoria and Brad Pitt. The Foundation is supported by other leading NGOs including 'Feed the Children', The International Youth Foundation and The Salvation Army.
About Calypte Biomedical:
Calypte Biomedical Corporation (www.calypte.com) is a U.S.-based healthcare company focused on the development and commercialization of diagnostic testing products for the detection of sexually transmitted diseases such as the HIV-1 BED Incidence EIA and new diagnostic test products for the rapid detection of HIV and other sexually transmitted diseases, several of which do not require blood samples. Calypte believes there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in developing countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-KSB for the year ended December 31, 2005 and its subsequent filings with the SEC.
Calypte to Withdraw its American Stock Exchange Common Stock Listing Monday July 31, 12:11 pm ET
LAKE OSWEGO, Ore., July 31 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (Amex: HIV - News), medical diagnostic tests manufacturer for the professional point of care (PRO) and over the counter (OTC) segments of the market primarily for the detection of antibodies to the human immunodeficiency virus (HIV) announced today that it has filed a voluntary request with the American Stock Exchange ("Amex" or the "Exchange") to withdraw its common stock from listing on the Amex effective as soon as practicable in compliance with the rules and regulations of the Amex and the SEC. ADVERTISEMENT
The Exchange has previously advised the Company that it was not in compliance with Section 1003(a)(iii) of the Exchange's Company Guide with shareholders' equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years; and Section 1003(a)(iv) with losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition had become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company would be able to continue operations and/or meet its obligations as they mature. In March 2006, the Company appealed the determination of the Exchange's staff to initiate delisting procedures in a hearing before a listing qualifications panel of the Amex Committee on Securities (the "Panel").
The Panel set July 31, 2006 as the date by which the Company must demonstrate that it had regained compliance with the Amex's continued listing standards. If the Company is unable to demonstrate at that time that it is in compliance with those standards, the Panel agreed that the Amex should immediately move to de-list the Company's common stock.
Roger I. Gale, Chairman and Chief Executive Officer of Calypte stated, "Although we are making progress with our financing efforts, the Company will not meet the Exchange's continued listing standards by the July 31, 2006 compliance date specified by the Panel. Accordingly, the Company has determined to remove its common stock from listing on the Amex as soon as practicable. The Company plans to provide an operational update in conjunction with the release of its second quarter financial results in the first part of August."
Following a required notice period, Calypte's common stock will no longer be listed on the Amex. At that time, the Company expects that its common stock will trade on the NASD Over the Counter Bulletin Board. The Company is in the process of obtaining a new trading symbol.
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