NASDAQ Grants Cereplast, Inc. 180-Day Extension to Regain Compliance With Minimum Bid Price Rule
EL SEGUNDO, Calif., Nov. 5, 2012 (GLOBE NEWSWIRE) -- Cereplast, Inc. (Nasdaq: CERP), a leading manufacturer of proprietary biobased, sustainable bioplastics, today announced that The NASDAQ Stock Market ("NASDAQ") has granted CERP an additional 180 days to regain compliance with NASDAQ's $1.00 minimum bid price rule under NASDAQ Marketplace Rule 5810(c)(3)(A). Previously, on May 1, 2012, CERP was notified by NASDAQ that CERP did not meet the minimum bid price rule required for continued listing and was given until November 1, 2012 to achieve compliance.
CERP may achieve compliance during the 180-day period if the closing bid price of CERP's common stock is at least a $1.00 per share for a minimum of 10 consecutive business days before April 29, 2013.
About Cereplast, Inc.
Cereplast, Inc. (Nasdaq: CERP) designs and manufactures proprietary biobased, sustainable bioplastics which are used as substitutes for traditional plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with traditional plastics. On the cutting-edge of biobased plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables® resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables® resins combine high biobased content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging. Learn more at www.cereplast.com. You may also visit the Cereplast social networking pages at Facebook.com/Cereplast, Twitter.com/Cereplast and Youtube.com/Cereplastinc.
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