Once thrown off the New York Stock Exchange, the stock of Chippewa Falls computer manufacturer Silicon Graphics Inc. now faces having its stock delisted from the Nasdaq Stock Market.

The company was sent a warning letter by Nasdaq on Dec. 2. The letter said for 10 consecutive trading days preceding the date of the letter, the market value of the SGI’s listed securities had been below the minimum $35 million requirement.

And Nasdaq said at this time SGI fails to meet an alternative NASDAQ requirement. That requires a company to have either minimum stockholders’ equity of $2.5 million or net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years.

SGI now has until Jan. 2, 2009 to get back into compliance with Nasdaq. It needs to exceed the $35 million requirement for a minimum of 10 consecutive business days.

If it doesn’t, SGI said it will get a letter from Nasdaq telling the company it is delisted. SGI will then be allowed to appeal to a listing qualifications panel.

After its delisting by the New York Stock Exchange, SGI went into and came out of bankruptcy. It then listed its stock with Nasdaq.