UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported):  October 24, 2007

 

Senesco Technologies, Inc.

(Exact Name of Registrant as Specified in Charter)

 

 

(732) 296-8400

(Registrant’s telephone number,
including area code)

 

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

 

 

Item 3.01

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

 

On October 24, 2007, Senesco Technologies, Inc. (the “Company”) received a letter from the American Stock Exchange (“AMEX”) informing the Company that it did not meet certain AMEX continued listing standards. In response to the letter, the Company submitted a plan advising AMEX of action it has taken, or will take that would bring the Company into compliance with the AMEX’s continued listing standards. Such plan anticipated an increase in the shareholder’s equity continued listing standard from $4,000,000 to $6,000,000. The AMEX accepted such plan of compliance and granted the Company an extension until March 1, 2008 to regain compliance with the AMEX’s continued listing standards.

 

During the extension period, the Company remains subject to periodic review by AMEX Staff.

 

Pursuant to the AMEX’s periodic review, on October 24, 2007, the Company received notice from the AMEX that the Company was not in compliance with certain conditions of the continued listing standards of Section 1003(a)(ii) of the AMEX Company Guide. Specifically, AMEX noted that, as of June 30, 2007, the Company’s shareholder’s equity was less than the new continued listing standard of $6,000,000 and losses from continuing operations and/or net losses were incurred in three of the last four fiscal years. However, the notice reiterated AMEX’s acceptance of the previously submitted plan and stated that the Company was not required to resubmit a plan in response to the notice.

 

The notice is based on a review by the AMEX of Senesco Technologies, Inc. Form 10-K for the period ended June 30, 2007 which publicly disclosed the financial status of the Company at that time.

 

Subsequent to June 30, 2007, the Company reported that it closed on $3 million of its $10 million financing, which was part of and consistent with the plan of compliance submitted to the AMEX. However, 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 Company being delisted from the AMEX.

 

Item 9.01		Financial Statements and Exhibits.
(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release, dated October 30, 2007 relating to the receipt of the AMEX notification.

 

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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.

 

 

	SENESCO TECHNOLOGIES, INC.
Dated: October 30, 2007	By:	/s/ Bruce Galton
		Name: Bruce Galton
		Title: President and Chief Executive Officer

 

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