<PAGE>
EXHIBIT 99.1
[On NASDAQ Letterhead]
By Facsimile and First Class Mail
December 14, 2000
Mr. Jon S. Pitcher
Chief Financial Officer
OXIS International, Inc.
6040 N. Cutter Circle, Ste. 317
Portland, Oregon 97217-3935
Re: OXIS International, Inc. (the "Company")
Dear Mr. Pitcher:
The Company's common stock has failed to maintain a minimum bid price of $1.00
over the last 30 consecutive trading days as required by Marketplace Rule
4450(a)(5) (the "Rule")./1/ Therefore, in accordance with Marketplace Rule
4310(c)(8)(B), the Company will be provided 90 calendar days, or until March 14,
2001, to regain compliance with this Rule./2/ If at anytime before March 14,
2001, the bid price of the Company's common stock is at least $1.00 for a
minimum of 10 consecutive trading days, Staff will determine if the Company
complies with the Rule. However, if the Company is unable to demonstrate
compliance with the Rule on or before March 14, 2001, Nasdaq will provide the
Company with written notification pursuant to Marketplace Rule 4815(a) that
Staff has determined to delist its common stock. At that time, the Company may
request a review of Staff's determination pursuant to Marketplace Rule 4800
Series.
If you have any questions concerning the compliance issues discussed above,
please contact Janel McBain, Senior Analyst at (301) 978-8045.
Sincerely,
/s/ Timothy J. Malinowski
Timothy J. Malinowski
Associate Director
Nasdaq Listing Qualifications
------------------------------
/1/ The Company also does not meet the maintenance requirements under
Maintenance Standard 2. See attached chart.
/2/ The 90 day period related exclusively to the bid price deficiency. The
Company may be delisted during the 90 day period for failure to maintain
compliance with any other listing requirement for which it is currently on
notice or which occurs during the period.
The Nasdaq Stock Market, Inc., an NASD Company 9801 Washingtonian
Blvd., Gaithersburg, MD 20878 877 536 2737
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NASDAQ NATIONAL MARKET
CONTINUED INCLUSION REQUIREMENTS
The following table identifies the National Market maintenance standards. Each
incidence of non-compliance is denoted with an "X".
COMPANY SYMBOL: OXIS
<TABLE>
<S> <C> <C> <C> <C>
Maintenance Standard Maintenance Standard
Standards 1 2
-------------------------------------------------------------------------------------------------
Net Tangible Assets/3/ $4 million N/A
-------------------------------------------------------------------------------------------------
Market Capitalization N/A $50 million X
OR
Total Assets ($50 million
AND
Total Revenue $50 million)
-------------------------------------------------------------------------------------------------
Public Float (shares)/4/ 750,000 1.1 million
-------------------------------------------------------------------------------------------------
Market Value of $5 million $15 million
Public Float
-------------------------------------------------------------------------------------------------
Bid Price $1 X $5 X
-------------------------------------------------------------------------------------------------
Round Lot 400 400
Shareholders/5/
-------------------------------------------------------------------------------------------------
Market Makers/6/ 2 4
-------------------------------------------------------------------------------------------------
Corporate Governance Yes Yes
-------------------------------------------------------------------------------------------------
</TABLE>
/3/ Net Tangible Assets = Total Assets - Total Liabilities - Goodwill -
Redeemable Securities
/4/ Public float is defined as total shares outstanding less any shares held by
officers, directors, or beneficial owners of 10 percent or more.
/5/ Round lot holders are holders of 100 shares or more.
/6/ An Electronic Communication Network ("ECN") is not considered an active
market maker.
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