Bid Price of Qualstar's Common Stock Under $1 Last 30 Days

Qualstar Corporation reported that on December 29, 2015, the company received a letter from the Nasdaq Listings Qualifications department of the Nasdaq Capital Market notifying the company that, for the last 30 consecutive business days, the bid price of the company’s common stock had closed below the minimum $1.00 per share required for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).

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The notification has no immediate effect on the listing of the company’s common stock.

The notification letter states that the company will be afforded 180 calendar days, or until June 27, 2016, to regain compliance with the minimum bid price requirement. In order to regain compliance, shares of the company’s common stock must maintain a minimum bid closing price of at least $1.00 per share for a minimum of ten consecutive business days.

If, at any time during the 180-day compliance period, the closing bid price per share of the company’s common stock is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the company a written confirmation of compliance and the matter will be closed.

If such compliance cannot be demonstrated by June 27, 2016, the company may be eligible for additional time, provided that the company can meet all other initial listing requirements for The Nasdaq Capital Market and provides written notice of its intention to cure the deficiency during a second compliance period.

However, if it appears to the staff of Nasdaq that the company will not be able to cure the deficiency, or if the company is otherwise not eligible, the company will be provided a notice that its securities will be subject to delisting from The Nasdaq Capital Market.

The company intends to actively monitor the bid price for its common stock between now and June 27, 2016, and will consider all available options.

There can be no assurance that the company will be able to regain compliance with the Nasdaq minimum bid price requirement or maintain compliance with other Nasdaq listing requirements.

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