This excerpt taken from the SIRI 8-K filed Sep 17, 2009.
minimum of ten consecutive business days, we will provide you written confirmation of compliance and this matter will be closed.
In the event the Company does not regain compliance with the Rule prior to the expiration of the grace period, it will receive written notification that its securities are subject to delisting.2 Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of bid price, for The Nasdaq Capital Market. To avail itself of this alternative, the Company will need to submit an application to transfer its securities to TheNasdaq Capital Market.3
Mr. Patrick L. Donnelly
Our Rules require that the Company, as promptly as possible, but no later than four business days from the receipt of this letter, make a public announcement through the news media which discloses receipt of this letter and the Nasdaq rules which it is based.4 A copy of this announcement must be provided to Nasdaqs MarketWatch Department at least 10 minutes prior to its release.5 In the event the Company does not make this required public announcement, trading in its securities will be halted. For your convenience attached is a list of news services.
Finally, an indicator will be displayed with quotation information related to the Companys securities on NASDAQ.com and NASDAQTrader.com and may be displayed by other third party providers of market data information. Also, a list of all non-compliant Nasdaq companies and the basis for such non-compliance is posted on our website at www.nasdaq.com. The Company will be included in this list commencing five business days from the date of this letter.
If you have any questions, please do not hesitate to contact me at +1 301 978 8034.
W. Wayne Bush, CFA
Nasdaq Listing Qualifications