North American Scientific Out of Compliance

North American Scientific Inc. has received notice from The NASDAQ Stock Market that it has failed to regain compliance due to shares falling below $1. Chatsworth-based North American was unable to meet an April 2 deadline of raising the price of its stock. Moreover, the Chatsworth-based radiation therapy provider is not eligible for an additional 180 calendar day compliance period given that it does not meet the Nasdaq Capital Market initial inclusion criteria of $15 million market value of publicly held shares. As a result, the company’s common stock is subject to delisting from the Nasdaq Capital Market at the opening of business on April 15. Shares of North American closed up at $0.37.