Nasdaq scolds DayStar, BioFuel

Denver, Colo.-based BioFuel Energy (NASDAQ:BIOF) and Santa Clara, Calif.-based DayStar Technologies (NASDAQ:DSTI) today revealed that they’ve both fallen out of the Nasdaq exchange’s good graces.

The two companies received letters on Sept. 15 from Nasdaq because their stock prices fell and remained below $1 per share. The Nasdaq Staff Deficiency Letter gives a grace period of 180 calendar days during which the companies can regain compliance by bringing the stock price above $1 for ten or more consecutive trading days. That period ends March 15 for both companies.

DayStar, which develops solar photovoltaic products based on CIGS thin-film deposition technology, said in a news release today that it “is considering appropriate business measures to address compliance with the continued listing standards.” The company also noted that after the March 15 deadline, DayStar could ask for a 180-day extension or appeal a decision of delisting.

Shares of DayStar were down less than 1 percent to close at $0.61 today.

Ethanol maker BioFuel Energy's IPO in 2007 was hurt by reports that criticized the sector, and the company said it has closed plants this year (see Ethanol omens impact deals and Utility poles make cheap ethanol feedstock for Enerkem). Shares were down 10.53 percent to close at $0.68 today.

Last month, Lake Mary, Fla.-based New Generation Biofuels Holdings (Nasdaq:NGBF) received a warning from Nasdaq for falling short of the mandate to have $2.5 million minimum stockholders’ equity requirement (see New Generation Biofuels faces Nasdaq delisting).