CARLSBAD, Calif. — Orange 21 Inc. (NASDAQ:ORNG) said it is applying to transfer its Nasdaq listing from the Nasdaq Global Market to the Nasdaq Capital Market. Orange 21 no longer meets the continued listing standards for the Nasdaq Global Market because, as reported in its Form 10-K for the year ended Dec. 31, 2008, it no longer satisfies the $10 million stockholders’ equity requirement set forth in the Nasdaq Listing Rules 5450(b)(1)(A).

Said the company in a statement and filing, “We received a Nasdaq Staff Deficiency Letter from the Nasdaq Stock Market regarding our failure to meet the minimum stockholders’ equity requirement on April 21, 2009. After evaluating the Nasdaq Staff Deficiency Letter, we determined that at this time it is more advantageous to pursue a transfer to the Nasdaq Capital Markt…..a listing on the Nasdaq Capital Market will result in a minor cost savings and we do not believe that stockholders’ liquidity will be adversely impacted by a transfer to the Nasdaq Capital Market.”