Bakers Footwear Group, Inc. (BKRS) said that on December 14, 2009, the company received a Staff Deficiency letter from the Nasdaq Stock Market informing the company that, based on the company's Form 10-Q filed on December 9, 2009, the company does not meet the $2.5 million minimum stockholders' equity required for continued listing on the Nasdaq Capital Market by Marketplace Rule.
Nasdaq rules provide the company with 15 calendar days to submit a plan to regain compliance with the $2.5 million minimum stockholders' equity standard. If the plan is accepted, Nasdaq may grant an extension of up to 105 calendar days from the date of the deficiency letter to regain compliance.
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