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MTI Technology Announces Nasdaq Deficiency Notice.

Publication: PR Newswire
Publication Date: 14-MAR-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
IRVINE, Calif., March 14 /PRNewswire-FirstCall/ -- MTI Technology Corporation announced today that it received a Nasdaq Staff Deficiency Letter on March 8, 2007, indicating that for the last 10 consecutive trading days, MTI's market value of listed securities had been below the $35,000,000 minimum required for continued listing on the NASDAQ Capital Market pursuant to Marketplace Rule 4310(c)(2)(B)(ii).

In accordance with Marketplace Rule 4310(c)(8)(C), MTI is provided with 30 calendar days from the date of notification, or until April 9, 2007, to regain compliance with Marketplace Rule 4310(c)(2)(B)(ii). If, at any time before April 9, 2007, the market value of MTI's listed securities is $35,000,000 or more for a minimum of 10 consecutive business days, Nasdaq will determine if MTI complies with Marketplace Rule...

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