Nature Vision, Inc. Receives Nasdaq Notice for Non-Compliance of Minimum Equity Requirement
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BRAINERD, Minn., May 27, 2009 (GLOBE NEWSWIRE) -- Nature Vision, Inc. (the
Company) (Nasdaq:NRVN) today announced it received written notification from The
Nasdaq Stock Market ("NASDAQ") that the Company fails to comply with the minimum
stockholders' equity requirement for continued listing set forth in Nasdaq
Listing Rule 5550(b) because the Company's stockholders' equity is below the
Nasdaq minimum stockholders' equity listing requirement of $2,500,000, and that
the Company's securities are, therefore, subject to delisting from The Nasdaq
Capital Market. The letter also indicated that the Nasdaq Staff is reviewing the
Company's eligibility for continued listing on The Nasdaq Capital Market and
requests that Nature Vision provide on or before June 4, 2009, the Company's
specific plan to achieve and sustain compliance with all The Nasdaq Capital
Market listing requirements, including the time frame for completion of the
plan. The Nasdaq letter further states that if, after the conclusion of its
review process, the Nasdaq Staff determines that Nature Vision's plan does not
adequately address the issues noted, it will provide written notification that
Nature Vision's securities will be delisted. At that time, Nature Vision may
appeal the Nasdaq Staff's decision to a Nasdaq Listing Qualifications Panel. If
the plan is submitted and is accepted, the Company may be provided with up to
105 calendar days from May 20, 2009 to demonstrate compliance. The Company is
determining if they will submit such a plan.
Nature Vision, Inc., NRVN, a publicly held corporation headquartered in
Brainerd, Minnesota, is a multi-branded outdoor recreation products company.
Their current portfolio includes Aqua Vu, Marcum, Fish TV, Cass Creek, Fish
Hawk, Castaic and others. Founded in 1997, Nature Vision continues to reinvent
the outdoor experience with true innovation.
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CONTACT: Nature Vision, Inc.
Robert King
(218) 825-0733
rking@naturevisioninc.com
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