Marrone seeks further Nasdaq listing extension
The US biopesticide company, Marrone Bio Innovations (MBI - Davis, California), is to request a hearing by the listing qualifications panel of the Nasdaq stock exchange for a further extension to file its financial reports. The company was granted an extension in February to file any delinquent reports by May 13th and regain compliance with the Nasdaq's listing rules. It had been ordered to submit a plan to regain compliance after failing to submit its financial results for the third quarter of 2014. It was investigating an $870,000 transaction in the fourth quarter of 2013. MBI says that it does not expect to file its financial report for the first quarter of 2015 on time, resulting in further non-compliance with Nasdaq listing rules. The listing qualifications panel has the authority to continue the company's listing on the Nasdaq until November 2nd 2015, MBI points out.