This excerpt taken from the TVIN 8-K filed Oct 22, 2008.
NASDAQ Delisting Update
TVI previously announced on September 19, 2008 that the NASDAQ Listing Qualifications Panel granted TVIs request to remain listed on The NASDAQ Capital Market, subject to the condition that on or before December 1, 2008, TVI must have evidenced a closing bid price of $1 or more for its common stock for a minimum of ten prior consecutive trading days. Under the terms of the initial exception granted, TVIs Board of Directors was able to defer a decision on a reverse stock split until October 21, 2008.
On October 16, 2008, given the current extraordinary market conditions at large, NASDAQ suspended the bid price and market value requirements of publicly held shares on its exchange through Friday, January 16, 2009. These rules will be reinstated on Monday, January 19, 2009. As a result of the temporary suspension of the minimum bid price rule, TVI now has until March 4, 2009 to regain compliance with the minimum bid price rule. Therefore, TVIs Board is delaying any decision regarding a reverse stock split at this time.
NASDAQs temporary suspension relates only to the rules requiring a minimum $1 closing bid price or a minimum market value of publicly held shares. There can be no assurance that in the future TVI will achieve compliance with the minimum $1 bid price or continue to satisfy the other NASDAQ listing requirements.