Nephros gets Amex extension to submit plan of compliance

By Elaine Rigoli

Tampa, Fla., Aug. 17 - Nephros, Inc. said the American Stock Exchange has granted it a one-week extension, until Aug. 24, to outline its plan to regain compliance.

Nephros said it intends to submit a compliance plan to the Amex staff by the new date.

Nephros received notice from the Amex in July that it is not in compliance with certain conditions of the continued listing standards of Section 1003 of the Amex company guide.

Specifically, Amex noted Nephros did not meet Amex requirements related to shareholders' equity of less than $4 million and losses from continuing operations and/or net losses in three out of its four most recent fiscal years and Amex requirements relating to shareholders' equity of less than $6 million and losses from continuing operations and/or net losses in its five most recent fiscal years.

Nephros, based in New York, is a medical device company.

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