Manitowoc-based Orion Energy Systems, Inc. has been given an additional 1-hundred-80 day ‘grace period’ to comply with Nasdaq’s $1.00 minimum Bid Price Rule. A news release explained Nasdaq’s determination was based on Orion’s ‘having met all other applicable listing requirements, except the Bid Price Rule, combined-with the company’s intention to seek shareholder approval to effect a ‘reverse stock split’, if required to meet the standard. Orion CEO Mike Altschaefl said in his recently completed 1st year, they focused on a strategy of reducing cost structure to fit the current size of the company while working to develop ‘new’ revenue opportunities. If Orion’s common stock reaches at least 1-dollar a share for a minimum of 10-consecutive business days between now & November 26th, Nasdaq will provide the company with a written confirmation of compliance the matter will be closed and, Orion ‘won’t’ go the route of a reverse stock split. The local firm is a provider of enterprise-grade LED lighting & energy project solutions.