NEW YORK, Aug. 29, 2011 /PRNewswire/ — MGT Capital Investments,
Inc. (“MGT”, “we”, or “the Company”) (AMEX: MGT.BC), a holding
company engaged in the medical imaging industry, announced today
that NYSE Amex, LLC (the “Exchange”) has accepted the Company’s
plan of compliance (the “Plan”) submitted in response to a notice
from the Exchange Staff dated June 8, 2011 indicating that the
Company was not in compliance with certain continued listing
standards as set forth in Part 10 of the Exchange’s Company
Guide.
Specifically, the Exchange Staff noted that the Company was not
in compliance with: (a) Section 1003(a)(i) of the Company
Guide, resulting from stockholders’ equity on March 31, 2011 of
less than $2,000,000 and losses from continuing operations and/or
net losses in two of its three most recent fiscal years; (b)
Section 1003(a)(ii) of the Company Guide with stockholders’ equity
of less than $4,000,000 and losses from continuing operations
and/or net losses in three of its four most recent fiscal years;
and (c) Section 1003(a)(iii) with stockholders’ equity of less than
$6,000,000 and losses from continuing operations and/or net losses
in its five most recent fiscal years. The Company was
afforded the opportunity to submit the Plan to the Exchange and on
July 15, 2011 presented the Plan to the Exchange.
On August 23, 2011, the Exchange notified the Company that it
had accepted the Plan and granted the Company an extension until
December 8, 2012 to regain compliance with Sections 1003(a)
(i)-(iii) of the Company Guide. The Company will be subject
to periodic review by Exchange Staff during the extension period.
Failure to make progress consistent with the Plan or to
regain compliance with the continued listing standards by the end
of the extension period could result in the Exchange initiating
delisting proceedings pursuant to Section 1009 of the Company
Guide.
The Exchange further notified the Company that
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