Dynasil Corp. of America said it is no longer in compliance with the NASDAQ stock market after the closing price for its common stock fell below $1 per share for 30 consecutive days, according to a company filing with the U.S. Securities and Exchange Commission.
Dynasil, a Watertown-based developer of sensing, detection and analysis technology for homeland security, medical and industrial applications, said it received notice from the NASDAQ Tuesday.
The notice has no immediate effect on the company's listing, but Dynasil has until Sept. 23 to regain compliance with the minimum bid price requirement or face future delisting, according to the filing.
"The company is considering actions that it may take in response to this notification in order to regain compliance with the continued listing requirements, but no decisions about a response have been made at this time," officials said.
The company reported first quarter net revenue of $10.6 million, compared with $12.1 million for the same period in 2012; and $4.6 million in gross profit, compared with $5.1 million for the first quarter of last year.
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