The Lawrenceville, New Jersey-based MIIX Group, Inc., a provider of medical professional liability insurance services, announced that the New York Stock Exchange recently notified the Company that its market capitalization and stockholders’ equity were below NYSE listing thresholds.
“The Company is considered ‘below criteria’ as its total market capitalization is less than $50 million over a 30-day trading period and stockholders’ equity is less than $50 million,” said the bulletin. It had previously been notified last July that its stock price and market capitalization were below NYSE listing thresholds.
“At that time, the NYSE requested that the Company provide a business plan demonstrating compliance with continued listing standards,” said the announcement. “The Company subsequently submitted a plan, which the NYSE reviewed and accepted as demonstrating compliance with continued listing standards.”
It further indicated that it would “provide the NYSE within 20 days with updated materials that demonstrate compliance with continued listing standards within 18 months of the original notification. The updated materials will be reviewed for final disposition by the NYSE.”