Star Buffet, Inc. Files Form 8-K Regarding Compliance With Nasdaq Listing Rules
20 Janvier 2011 - 3:52PM
Star Buffet, Inc. (Nasdaq:STRZ) today filed a Form 8-K with the
Securities and Exchange Commission regarding a letter received from
the Nasdaq Stock Market ('Nasdaq") on January 13, 2011. In
the letter, Nasdaq stated that the Market Value of Publicly Held
Shares of the Company's common stock had been below the
minimum market value $1 million for the last 30 consecutive
business days and the Company therefore is not in compliance with
the Market Value of Publicly Held Shares for Continued Listing set
forth in Marketplace Rule 5810(b). The notification of
noncompliance has no immediate effect on the listing or trading of
the Company's common stock on the Nasdaq Capital Market.
The Company has been provided 180 calendar days, or until July
12, 2011, to regain compliance with the minimum market value
requirement. To regain compliance, the Market Value of
Publicly Held Shares of the Company's common stock must meet or
exceed $1 million for at minimum of ten consecutive business days
during the 180-day grace period.
About Star Buffet
Star Buffet is a multiconcept restaurant operator. As
of January 20, 2010, Star Buffet, through its subsidiaries,
operates seven 4B's restaurants, five JB's restaurants, five
Barnhill's Buffet restaurants, four franchised HomeTown Buffets,
three K-BOB'S Steakhouses, two Casa Bonita Mexican theme
restaurants, two Whistle Junction restaurants, one BuddyFreddys
restaurant, one Western Sizzlin restaurant, one Holiday House
restaurant, one JJ North's Grand Buffet, one Pecos Diamond
Steakhouse and one Bar-H Steakhouse.
CONTACT: Robert E. Wheaton
President, CEO
Star Buffet, Inc.
(480) 425-0397
Star Buffet (CE) (USOTC:STRZ)
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