UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): March 4, 2010
BIOANALYTICAL
SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
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Indiana
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0-23357
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35-1345024
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(State
or other
jurisdiction
of
incorporation
or
organization)
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(Commission
File Number)
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(I.R.S.
Employer Identification
No.)
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2701
KENT AVENUE
WEST
LAFAYETTE, INDIANA
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47906-1382
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
telephone number, including area code: (765) 463-4527
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange
Act(17CFR240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act(17CFR240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act(17CFR240.13e-4(c))
Item
3.01. Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On March
4, 2010, Bioanaltytical Systems, Inc. (the "Company") received a letter from the
Nasdaq Listing Qualification Department (the "Letter") stating that the Company
has failed to satisfy a requirement for continued listing of the Company's
common shares on the Nasdaq Capital Market, consisting of the requirement to
maintain at least a $1.00 minimum bid price for its common shares (the "Minimum
Bid Requirement").
The
Letter further stated that, under the listing rules, the Company has until
August 31, 2010 to regain compliance with the Minimum Bid
Requirement. If, at any time prior to August 31, 2010, the bid price
of the common shares closes at $1.00 or more for a minimum of 10 consecutive
business days, the Company will be in compliance with the Minimum Bid
Requirement. The Company intends to actively evaluate and monitor the
bid price for its common shares between now and August 31, 2010, and consider
implementation of various options available to the Company if its common shares
do not trade at a level that is likely to regain compliance. If the
Company's minimum bid does not increase to $1.00 per share or more prior to
August 31, 2010, the Company could be delisted from the Capital Market, in which
case the common shares may be traded over-the-counter.
On March
5, 2010 the Company issued a press release announcing receipt of the
Letter. A copy of that press release is attached as Exhibit 99.1 and
is incorporated herein by reference.
Item
9.01. Financial Statements and Exhibits.
99.1 Press
Release dated March 5, 2010.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Bioanalytical
Systems, Inc.
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Date: March
5, 2010
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By:
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/s/ Michael R. Cox
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Michael
R. Cox
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Vice
President, Finance and Administration, Chief
Financial
Officer and Treasurer
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Exhibit
Index
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Exhibit No.
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Description
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99.1
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Press
Release dated March 5,
2010.
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