SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 27, 2011
DayStar Technologies, Inc.
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction
1010 South Milpitas Boulevard
Milpitas, California 95035
(Address of Principal Executive Offices) (Zip Code)
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|¨||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|¨||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|¨||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|¨||Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
|Item 3.01||Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.|
As previously reported, on April 29, 2011, DayStar Technologies, Inc. (the Company) received a letter from the Nasdaq Stock Market (the Notice) notifying the Company that for 30 consecutive trading days the bid price of the Companys common stock had closed below the $1.00 per share minimum required for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Marketplace Rule 5550(a)(2). The Notice also stated that the Company has been provided 180 calendar days, or until October 26, 2011, to regain compliance.
On October 27, 2011, the Company received a letter from the Nasdaq Stock Market notifying the Company that it had not regained compliance with Nasdaq Marketplace Rule 5550(a)(2). However, the Nasdaq Capital Market has determined that the Company is eligible for and has been granted an additional 180 calendar days, or until April 23, 2012, to regain compliance. To do so, the bid price of the Companys common stock must close at or above $1.00 per share for a minimum of ten consecutive trading days prior to April 23, 2012.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|DAYSTAR TECHNOLOGIES, INC.|
|Date: November 2, 2011||By|
|Christopher T. Lail|
|Chief Financial Officer|