DayStar Receives NASDAQ Deficiency Notice Relating to Audit Committee

SANTA CLARA, Calif., Dec. 31 /PRNewswire-FirstCall/ -- DayStar Technologies, Inc. (Nasdaq: DSTI), a developer of solar photovoltaic products based on CIGS thin-film deposition technology announced today that on December 30, 2009 it received a NASDAQ Staff Deficiency Letter from The NASDAQ Stock Market indicating that the Company temporarily did not comply with the audit committee requirement for continued listing on NASDAQ as set forth in Marketplace Rule 5605(c)(2). The NASDAQ Letter states that the resignation of Messrs. Richard Nevins and Scott Schecter on September 14, 2009, as disclosed in the Company's Current Report on Form 8-K filed on September 18, 2009, reduced the number of independent directors on its Audit Committee from three to one. As a result, the Company no longer complied with the audit committee requirement for continued listing on NASDAQ as set forth in Marketplace Rule 5605(c)(2).

Source : http://www.prnewswire.com/news-releases/daystar-re...