Industry Headlines

MTI Applies for Transfer to the Nasdaq Capital Market

August 27, 2008
/ Print / Reprints /
/ Text Size+

ALBANY, N.Y.--Mechanical Technology Inc. (NASDAQ: MKTY) announced that it has applied to transfer its common stock listing from the Nasdaq Global Market to the Nasdaq Capital Market. The company no longer meets the continued listing standards for the Nasdaq Global Market because, as reported in its Quarterly Report on Form 10-Q for the period ended June 30, 2008, the company no longer satisfies the $10 million minimum stockholders’ equity requirement set forth in Marketplace Rule 4450(a)(3).

The company received a Staff Deficiency Letter from the Nasdaq Stock Market regarding its failure to meet this minimum stockholders’ equity requirement on August 20, 2008. After evaluating the letter, the Company determined that at this time it was more advantageous to pursue a transfer to the Nasdaq Capital Market than attempting to maintain its listing on the Nasdaq Global Market.

MTI is primarily engaged in the development and commercialization of Mobion off-the-grid portable power solutions through its subsidiary MTI MicroFuel Cells Inc. (“MTI Micro”). MTI Micro has a team of entrepreneurial business executives, researchers and scientists; a proprietary direct methanol micro fuel cell power system and a number of system prototypes demonstrating size reductions and performance improvements; and related intellectual property. MTI Micro has received government funding and developed strategic partnerships to facilitate efforts to achieve commercialization. MTI is also engaged in the design, manufacture, and sale of test and measurement instruments and systems through its subsidiary MTI Instruments Inc.

Did you enjoy this article? Click here to subscribe to Quality Magazine. 

You must login or register in order to post a comment.




 In honor of World Quality Month, we spoke to James Rooney, ASQ Past Chairman of the Board of Directors 2013, for his take on quality around the world.
For more information, read the ASQ Speaking of Quality column.
More Podcasts

Quality Magazine


2014 September

Check out the September 2014 edition of Quality Magazine for features!

Table Of Contents Subscribe

The Skills Gap

What is the key to solving the so-called skills gap in the quality industry?
View Results Poll Archive

Clear Seas Research

qcast_ClearSeas_logo.gifWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.



facebook_40.png twitter_40px.png  youtube_40px.pnglinkedin_40px.png