UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
Delaware |
000-22427 |
77-0192527 |
---|---|---|
(State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer |
incorporation) | Identification Number) |
On May 5, 2005, Heska Corporation (Heska or the Company) signed a distribution agreement with Arkray Global Business, Inc. (Arkray) regarding the SPOTCHEM EZ Automated Dry Chemistry System and affiliated test strips and supplies. The SPOTCHEM EZ Automated Dry Chemistry System is a compact benchtop system used to measure common blood chemistry components that are vital to veterinary medical diagnosis. Arkray had been supplying Heska these products under a prior distribution agreement.
On May 5, 2005, Heska received notification from the Nasdaq Stock Market (Nasdaq) indicating that for the last 30 consecutive business days, the bid price of the Companys common stock has closed below the minimum $1.00 per share requirement for continued inclusion under Marketplace Rule 4310(c)(4) (the Rule). The Nasdaq notice indicated that, in accordance with Marketplace Rule 4310(c)(8)(D), the Company will be provided 180 calendar days, or until November 1, 2005, to regain compliance with the Rule by having the bid price of its common stock close at $1.00 per share or more for a minimum of 10 consecutive business days prior to such date, although the Nasdaq staff has the discretion to require compliance for a period in excess of 10 consecutive business days, which is generally no more than 20 consecutive business days, under certain circumstances.
Ultimately, non-compliance could result in Nasdaq delisting the Companys common stock. Such delisting could have an adverse effect on the liquidity of the Companys common stock and could also impact the Companys ability to raise additional equity capital, if necessary.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HESKA CORPORATION a Delaware corporation |
Dated: May 11, 2005 |
By: /s/Jason Napolitano JASON NAPOLITANO Executive Vice President, Chief Financial Officer |