PETACH-TIKVA, ISRAEL -- Eletk has received notice from Nasdaq warning that the fabricator was out of compliance for certain listing rules.

On Oct. 2, the Nasdaq Listing Qualifications Department issued a notice advising the board fabricator that as of Oct. 1, stockholders' equity had fallen below the mandatory threshold of $2.5 million. Eltek also is failing to meet the alternatives of market value of listed securities or net income from continuing operations, and therefore is not in compliance with the applicable listing rule, the notice said.

Eltek has until Nov. 16 to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from Oct. 2, 2018, to allow the company to evidence compliance.

Eltek chief executive Eli Yaffe said, "We are evaluating certain alternatives to regain compliance and intend to submit a plan prior to the Nov. 16 deadline."

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