Jul 10, 2002 : NetNation Receives Notice from Nasdaq

📅 July 10, 2002 - Web hosting firm NetNation Communications Inc. (NetNation.com -> hostway.com) announced on Wednesday that it has received a Letter of Notice from the Nasdaq indicating that NetNation fails to comply with the $1 per share minimum requirement for listing under the market's rules.

In accordance with the market's practices, says NetNation, the company has been provided with 180 calendar days, until January 6, 2003, to regain compliance.
According to the Nasdaq rule, compliance requires the bid price of NetNation's common stock to close at a minimum of USD$1 per share for a minimum of 10 consecutive days of trading before January 6, 2003. Under certain circumstances, the Nasdaq may require more than 10 days.
If compliance is not demonstrated by January, Nasdaq will determine whether the company meets the listing criteria for its SmallCap market, which may result in an additional 180 calendar days in which to demonstrate compliance.
According to NetNation, if Nasdaq determines that the company is not eligible for an extension, NetNation will be notified in writing that its securities will be delisted. Delistings can be appealed to a Nasdaq Listing Qualification Panel.

Reads: 1560 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/net071002.cfm

Company: NetNation [netnation.com -> hostway.com]

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