On January 27, 2011, the Company received a staff determination letter (the "Determination Letter") from NASDAQ informing the Company that it had not regained compliance with the requirements for continued listing set forth in NASDAQ listing rule 5550(b)(2) (the "MVLS Rule") as a result of the Company not regaining compliance with the $35 million minimum market value of listed securities requirement for continued listing on The Nasdaq Capital Market. In that same Determination Letter, the Company was also informed that is had not regained compliance with the requirements for continued listing set forth in NASDAQ listing rule 5550(a)(2) (the "Bid Price Rule"). The Company previously disclosed on a Form 8-K filed on August 4, 2010 with the SEC, that on July 30, 2010 the Company received a letter from the NASDAQ Listing Qualifications Department providing notification that the bid price of the Company's common stock had closed at less than $1.00 per share over the previous 30 consecutive business days, and, as a result, did not comply with the Bid Price Rule. In accordance with listing rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until January 26, 2011, to regain compliance with the Bid Price Rule by having a closing bid price for a minimum of ten consecutive business days at $1.00 per share or higher. The Company was not able to regain compliance. The Form 8-K filed on August 4, 2010, also disclosed that a second notification from NASDAQ was received on July 30, 2010, providing notification that, for the previous 30 consecutive business days, the Company also failed to comply with the $35 million minimum market value of listed securities requirement for continued listed on The Nasdaq Capital Market, and as a result failed to comply with the MVLS Rule. In accordance with listing rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until January 26, 2011, to regain compliance with the MVLS Rule by having it's Market Value of Listed Securities close at $35 million or more for a minimum of 10 consecutive business days at anytime during the 180 calendar period. The Company was not able to regain compliance. The Company decided not to appeal the Staff Determination.