8-K: Current report filing
Published on August 22, 2002
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): August 16, 2002
Commonwealth Biotechnologies, Inc.
(Exact name of registrant as specified in its charter)
601 Biotech Drive
Richmond, Virginia 23235
(Address of principal executive offices)
Registrant's telephone number, including area code: (804) 648-3820
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ITEM 5. Other Events and Regulation FD Disclosure.
Commonwealth Biotechnologies, Inc. (the "Company") has received
notification from the NASDAQ Stock Market, Inc. indicating that the Company
failed to comply with the minimum market value requirements for continued
listing set forth in Marketplace Rule 4310(c)(7), and that its securities are,
therefore, subject to delisting from The Nasdaq SmallCap Market. The letter
states that the Company will have until November 14, 2002 to regain compliance.
If, at any time, before November 14, 2002, the minimum market value of
publicly-held shares of the Company's common stock is $1,000,000 or more for a
minimum of 10 consecutive trading days, the Nasdaq staff will provide written
notification that the Company is in compliance.
ITEM 6. Resignation of Registrant's Directors.
On August 19, 2002, Everette G. Allen, Jr. submitted his resignation as a
director of Company. Mr. Allen has served as a director of the Company since
January 2001. Mr. Allen served as a member of the Audit and Strategic Planning
Committees of the Company's Board of Directors. Mr. Allen has elected to focus
his attention on the development of his newly-formed law firm. The Company is
actively searching for a replacement.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COMMONWEALTH BIOTECHNOLOGIES, INC.
Dated: August 22, 2002 By: /s/ Robert B. Harris, Ph.D.
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Robert B. Harris, Ph.D.
President and Chief Executive
Officer
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