December 7, 2009 (FinancialWire) — GeoPharma, Inc. (NASDAQ: GORX) received a NASDAQ Staff Deficiency Letter on November 25th, 2009 indicating that the company does not comply with the Minimum Stockholders’ Equity requirement for continued listing set forth in NASDAQ Listing Rule 5550(b) (1).

The NASDAQ Listing Rules (the “Rules) require listed securities to maintain a minimum Stockholders’ Equity of $2.5 million and, based upon the company’s Stockholders’ Equity as of September 30, 2009 as filed in the company’s September 30, 2009 form 10-Q, the company did not meet that requirement.

In light of the deficiency, the Rules also provide the company with 15 calendar days to submit a plan to regain compliance. If the company’s plan is accepted, NASDAQ can grant an extension of up to 105 calendar days from the date of this letter to evidence compliance.

The company understands the NASDAQ requirements and believes it will be able to re-enter compliance of the ruling within the allotted grace period.

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