-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KcrINSCKlBUTGNRPzmG/nxNOZpxD++o5Qcqz2NseKKdHddSfA2ASxqLONwu9IwtH ho8wAjsKPzEdJiuaNzQ7MQ== 0001144204-10-053099.txt : 20101008 0001144204-10-053099.hdr.sgml : 20101008 20101008170129 ACCESSION NUMBER: 0001144204-10-053099 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20101005 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing FILED AS OF DATE: 20101008 DATE AS OF CHANGE: 20101008 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VirtualScopics, Inc. CENTRAL INDEX KEY: 0001307752 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 043007151 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52018 FILM NUMBER: 101116581 BUSINESS ADDRESS: STREET 1: 350 LINDEN OAKS CITY: ROCHESTER STATE: NY ZIP: 14625 BUSINESS PHONE: 585-249-6231 MAIL ADDRESS: STREET 1: 350 LINDEN OAKS CITY: ROCHESTER STATE: NY ZIP: 14625 FORMER COMPANY: FORMER CONFORMED NAME: ConsultAmerica, Inc. DATE OF NAME CHANGE: 20041103 8-K 1 v198555_8k.htm Unassociated Document
 
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
 
Date of report (Date of earliest event reported)
October 8, 2010 (October 5, 2010)
 
VIRTUALSCOPICS, INC.
(Exact Name of Registrant as Specified in Its Charter)
 
Delaware
(State or Other Jurisdiction of Incorporation)
 
000-52018
04-3007151
(Commission File Number)
(IRS Employer Identification No.)
   
500 Linden Oaks, Rochester, New York
14625
(Address of Principal Executive Offices)
(Zip Code)
   
(585) 249-6231
(Registrant’s Telephone Number, Including Area Code)
 
    
 (Former Name or Former Address, if Changed Since Last Report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 
INFORMATION TO BE INCLUDED IN THE REPORT

Section 3

Item 3.01 
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On October 5, 2010, VirtualScopics, Inc. (“Company”) received a notice from The NASDAQ Stock Market indicating that the minimum bid price for the Company’s common stock has fallen below $1.00 for 30 consecutive business days.  NASDAQ Listing Rule 5550(a)(2) requires a $1.00 minimum bid price for continued listing of an issuer's common stock.

In accordance with NASDAQ Listing Rule 5810(c)(3)(A), the Company has until April 4, 2011 to regain compliance. The Company can regain compliance with the minimum bid price rule if the bid price of its common stock closes at $1.00 or higher for a minimum of 10 consecutive business days during the 180-day period, although the NASDAQ Stock Market may, in its discretion, require the Company to maintain a bid price of at least $1.00 per share for a period in excess of ten consecutive business days before determining that the Company has demonstrated the ability to maintain long-term compliance.

If compliance with this Rule cannot be demonstrated by April 4, 2011, NASDAQ will determine whether the Company meets the NASDAQ Capital Market initial listing criteria as set forth in Listing Rule 5505, except for the bid price requirement. If the Company meets the initial listing criteria, NASDAQ will notify the Company that it has been granted an additional 180 calendar day compliance period. If the Company is not eligible for an additional compliance period, NASDAQ will notify the Company that its common stock is subject to delisting. At that time, the Company may appeal the delisting determination to a Listing Qualifications Panel.
 
The Company intends to actively monitor the bid price for its common stock between now and April 4, 2011, and will consider available options to resolve the deficiency and demonstrate compliance with the NASDAQ Capital Market minimum bid price requirement.

 
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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
  VIRTUALSCOPICS, INC.  
     
       
Date: October 8, 2010
By:
/s/ Molly Henderson  
  Name:   Molly Henderson  
 
Title:
Chief Business & Financial Officer, Sr. Vice President
  
       
 
 
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