CorMedix out of compliance with NYSE MKT listing requirements

• NYSE MKT notifies CorMedix (NYSEMKT:CRMD) that it is not in compliance with certain aspects of its listing requirements. Specifically, the company reported shareholders' equity of less than $2M in its most recent 10-Q and it had losses in each of its four most recent fiscal years. The company must submit a plan to address the deficiencies no later than June 18, 2014.
• The reason for the shareholders' equity deficiency is a derivative liability of $12.4M.