Delisting Determination,The Nasdaq Stock Market, LLC,
July 17, 2009, Particle Drilling Technologies, Inc. The Nasdaq Stock
Market, Inc. (the Exchange) has determined to remove from
listing the common stock of Particle Drilling Technologies, Inc.
(the Company), effective at the opening of the
trading session on July 27, 2009. Based on review of
information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for
listing on the Exchange pursuant to Listing Rules
5550(b)(1), 5600 and 5635. The Company was notified of the Staffs
determinations on March 31, 2009 and April 16, 2009. The Company
requested a review of the Staffs determination before the
Listing Qualifications Hearings Panel. Upon review of the
information provided by the Company, the Panel determined
that the Company did not qualify for inclusion on the
Exchange based on its failure to comply with Listing Rules:
5550(b)(1), 5600, and 5635. The Company was
notified of the Panels decision on May 8, 2009
and trading in the Companys securities was suspended on
May 12, 2009. The Company did not request a review
of the Panels decision by the Nasdaq Listing and Hearing
Review Council. The Listing Council did not call the
matter for review. The Panels Determination to delist
the Company became final on June 22, 2009.