BRAINERD, Minn., Aug. 7, 2009 (GLOBE NEWSWIRE) -- Nature Vision, Inc. (the Company) (Nasdaq:NRVN) announced today it has notified the NASDAQ Stock Market ("NASDAQ") of its intent to voluntarily delist its common stock from the NASDAQ Capital Market. The Company currently anticipates that, on or about August 17, 2009, it will file with the Securities and Exchange Commission and NASDAQ a Form 25 relating to the delisting of its common stock. Accordingly, the Company anticipates that trading of its common stock on the NASDAQ Capital Market will be suspended on or about August 10, 2009.
On May 20, 2009, Nature Vision received written notification from The Nasdaq Stock Market ("Nasdaq") that the Company failed to comply with the minimum stockholders' equity requirement for continued listing set forth in Nasdaq Listing Rule 5550(b) because the Company's stockholders' equity is below the Nasdaq minimum stockholders' equity listing requirement of $2,500,000, and that the Company's securities are, therefore, subject to delisting from The Nasdaq Capital Market.
On September 25, 2008, Nature Vision, Inc. (the "Company") received a notice from The Nasdaq Stock Market indicating that the Company is in violation of the minimum bid price requirement for continued listing set forth in Nasdaq Marketplace Rule 4310(c)(4) as the bid price of the Company's common stock closed below $1.00 per share for 30 consecutive days.
The Company does not foresee that it will become compliant with these listing standards in the foreseeable future and as such will voluntarily delist from the Nasdaq Capital Market. The Company believes that its common stock will be eligible for listing on the NASD Over-the-Counter Bulletin Board following its delisting from the Nasdaq Capital Market.
Nature Vision, Inc., NRVN, a publicly held corporation headquartered in Brainerd, Minnesota, is a multi-branded outdoor recreation products company. Their current portfolio includes Aqua Vu, Marcum, Fish TV, Cass Creek, Fish Hawk, Castaic and others. Founded in 1997, Nature Vision continues to reinvent the outdoor experience with true innovation.