Delisting Determination,The Nasdaq Stock Market, LLC,
January 25, 2017, Escalon Medical Corp. The Nasdaq
Stock Market, Inc. (the Exchange) has determined to remove
from listing the common stock of Escalon Medical Corp.
(the Company), effective at the opening of the trading
session on February 6, 2017. Based on review of information
provided by the Company, Nasdaq Staff determined that the
Company no longer qualified for listing on the Exchange
pursuant to Listing Rule 5550(b)(1).
The Company was notified of the Staffs determination on
August 18, 2016.  The Company appealed the determination
to a Hearing Panel. Upon review of the information provided
by the Company, the Panel issued a decision dated
October 19, 2016, granting the Company continued listing
pursuant to an exception that included several milestones
that the Company was required to meet, towards the toal
of regaining compliance with Listing Rule 5550(b)(1)
and 5550(a)(2). However, the Company was
unable to meet the exception milestones as required.
On November 16, 2016, the Panel issued a final delisting
determination and notified the Company that trading in the Companys
securities would be suspended on November 18, 2016.
The Company did not request a review of the Panels decision
by the Nasdaq Listing and Hearing Review Council. The
Listing Council did not call the matter for review.
The Panels Determination to delist the Company
became final on January 3, 2017.