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PLC expects US de-listing after standards failings

This article was originally published in Clinica

Executive Summary

Cardiac and vascular product developer PLC Systems has said it expects to be de-listed from the American Stock Exchange (AMEX) sometime in the coming weeks as it has failed to prove its ability to regain compliance with listing standards. Franklin, Massachusetts-based PLC said its shareholder equity was less than $4m as of June 30 2008, and it incurred losses from continuing operations and net losses in three out of the four most recent fiscal years. The firm, which has been trading at less than $1 per share since September 2006, now expects to begin trading on the over-the-counter bulletin board.

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