A couple days ago I posted about a press release on PlanetOut and their NASDAQ compliance note. Another press release was issued yesterday, confirming doubts about the only LGBT-oriented, publicly-traded company’s future on the stock market:

PlanetOut Inc. Receives Notice From Nasdaq Regarding Non-Compliance With Minimum Stockholders’ Equity Requirement (link)

SAN FRANCISCO, March 13 — PlanetOut Inc. (Nasdaq: LGBT), a leading media and entertainment company exclusively focused on the gay and lesbian market, announced today that on March 9, 2009 it received a notice from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market stating that based on PlanetOut’s Annual Report on Form 10-K for the year ended December 31, 2008, the Nasdaq staff had concluded that PlanetOut’s stockholders’ equity was less than the $10 million minimum required for continued inclusion on The Nasdaq Global Market under Marketplace Rule 4450(a)(3) (the “Rule”).

The notice further states that PlanetOut will be provided with 15 days, through March 24, 2009, within which to provide the Nasdaq staff with a definitive plan to regain compliance with the Rule. If the Nasdaq staff accepts PlanetOut’s plan, the staff may grant PlanetOut an exception of up to 105 calendar days within which to regain compliance pursuant to its plan. If the Nasdaq staff does not accept PlanetOut’s plan, PlanetOut will have the opportunity to appeal that decision to a Listings Qualification Panel. The notice also states that rather than submitting a plan to regain compliance, PlanetOut may instead apply to transfer its securities to The Nasdaq Capital Market if PlanetOut satisfies inclusion requirements for that market and submits its transfer application no later than March 24, 2009.

PlanetOut currently intends to submit an application to transfer its securities to The Nasdaq Capital Market.