NEW BRUNSWICK, N.J., Nov. 4 /PRNewswire-FirstCall/ -- Senesco Technologies, Inc. (the “Company”) has received a notice from the NYSE Amex LLC (“NYSE”) providing notification that the Company does not meet one of the NYSE’s continued listing standards as set forth in Part 10 of the NYSE company guide and the Company has therefore become subject to the procedures and requirements of Section 1009 of the NYSE company guide. Specifically, the Company is not in compliance with Section 1003(a)(iii) of the NYSE company guide with stockholder’s equity of less than $6,000,000 and losses from continuing operations and/or net losses in its five most recent fiscal years. The Company reported stockholder’s equity of $5,667,834 at June 30, 2009.
To maintain an NYSE listing, Senesco must submit a plan by November 30, 2009 advising the NYSE of action it has taken, or will take; that would bring Senesco into compliance with the continued listing standards within a maximum of 18 months from the date of notification by the NYSE. The Company is taking steps to prepare and submit such a plan to the NYSE on or before November 30, 2009.
About Senesco Technologies, Inc.
Certain statements included in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from such statements expressed or implied herein as a result of a variety of factors, including, but not limited to: the ability of the Company to consummate additional financings; the development of the Company’s gene technology; the approval of the Company’s patent applications; the successful implementation of the Company’s research and development programs and joint ventures; the success of the Company’s license agreements; the acceptance by the market of the Company’s products; success of the Company’s preliminary studies and preclinical research; competition and the timing of projects and trends in future operating performance, the Company’s ability to comply with the continued listing standards of the AMEX, as well as other factors expressed from time to time in the Company’s periodic filings with the Securities and Exchange Commission (the “SEC”). As a result, this press release should be read in conjunction with the Company’s periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
CONTACT: Company: Bruce Galton, Chief Executive Officer, Senesco
Technologies, Inc., +1-732-296-8400, bgalton@senesco.com; or Investor
Relations: Brian Ritchie, FD, +1-212-850-5683, brian.ritchie@fd.com
Web site: http://www.senesco.com/
