AdvanSource Biomaterials Corp. (NYSE:ASB) submitted a plan to the New York Stock Exchange detailing its attempt to regain compliance with the stock market’s listing requirements.
The Wilmington, Mass.-based company fell short of the exchange’s listing standards when its stockholders’ equity fell to $5.8 million, just shy of the NYSE’s $6 million threshold. In addition, the company had net losses and losses from continuing operations in its five most recent fiscal years.