Electric housewares maker Salton, Inc. announced that in accordance with the continued listing criteria set forth by the New York Stock Exchange (NYSE), on July 3, 2006, it presented a plan to the NYSE demonstrating how it intends to comply with the continued listing standards.
Salton previously announced that it was notified by the NYSE that the company was considered "below criteria" because its total market capitalization and its shareholders' equity were each less than U.S. $75 million over a consecutive 30-day trading period.
In accordance with the continued listing criteria, the NYSE has up to 45 days to either accept or reject the plan. In the event that the NYSE does not accept the plan, Salton would seek an alternate trading market for its common stock.
to Daily News