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 The exchange put the company on notice after its shares' average
closing price was below $1 for 30 consecutive trading days.
Under NYSE rules, the Rochester, N.Y., company has six months to
regain compliance with the minimum share price requirement. That
means its stock must have a closing price of at least $1 a share on
the last trading day of any calendar month during the period and
must maintain that average over the previous 30 trading days or on
the last day of the six months.
Kodak shares, which traded as high as $5.85 in the past year, closed
at 65 cents Tuesday, up a penny, and slid nearly 4 percent in
after-hours trading. The stock has not closed above $1 since Dec. 2.
Shares have slid precipitously since the fall as Kodak, which has
posted losses in six of the last seven years, seeks to avert a cash
crunch by selling its digital-imaging patent portfolio. The
photography pioneer, which has been reinventing itself as a digital
imaging and printing company, warned in November that its survival
over the next year hinges on an ability to sell its potentially
lucrative patents or raise extra funds by selling debt.
[Associated
Press] Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
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