BRAINERD, Minn., May 27, 2009 (GLOBE NEWSWIRE) -- Nature Vision, Inc. (the Company) (Nasdaq:NRVN) today announced it received written notification from The Nasdaq Stock Market ("NASDAQ") that the Company fails to comply with the minimum stockholders' equity requirement for continued listing set forth in Nasdaq Listing Rule 5550(b) because the Company's stockholders' equity is below the Nasdaq minimum stockholders' equity listing requirement of $2,500,000, and that the Company's securities are, therefore, subject to delisting from The Nasdaq Capital Market. The letter also indicated that the Nasdaq Staff is reviewing the Company's eligibility for continued listing on The Nasdaq Capital Market and requests that Nature Vision provide on or before June 4, 2009, the Company's specific plan to achieve and sustain compliance with all The Nasdaq Capital Market listing requirements, including the time frame for completion of the plan. The Nasdaq letter further states that if, after the conclusion of its review process, the Nasdaq Staff determines that Nature Vision's plan does not adequately address the issues noted, it will provide written notification that Nature Vision's securities will be delisted. At that time, Nature Vision may appeal the Nasdaq Staff's decision to a Nasdaq Listing Qualifications Panel. If the plan is submitted and is accepted, the Company may be provided with up to 105 calendar days from May 20, 2009 to demonstrate compliance. The Company is determining if they will submit such a plan.
Nature Vision, Inc., NRVN, a publicly held corporation headquartered in Brainerd, Minnesota, is a multi-branded outdoor recreation products company. Their current portfolio includes Aqua Vu, Marcum, Fish TV, Cass Creek, Fish Hawk, Castaic and others. Founded in 1997, Nature Vision continues to reinvent the outdoor experience with true innovation.