RICHMOND, Va.--(BUSINESS WIRE)--Commonwealth Biotechnologies, Inc. (“CBI”) (Nasdaq Capital Market: CBTE), a contract research organization providing outsourced services in the area of biotechnology discovery and development to companies worldwide, today announced that on November 20, 2008, it was notified by the NASDAQ Stock Market that it is no longer in compliance with NASDAQ Marketplace Rule 4310(c)(14) due to its failure to file its form 10-Q for the period ended September 30, 2008. The delayed filing is a result of complex accounting issues associated with the discontinued operation in England and the modification of the Company’s convertible debt instrument.
