Atlanta-based ebix.com Inc., which supplies software and e-commerce solutions to the property and casualty insurance industry, announced that a NASDAQ Listing Qualifications Panel has decided to continue listing ebix’s common stock on the NASDAQ SmallCap Market.
The determination follows ebix’s October 3 appeal before the Panel of a NASDAQ Staff Determination on August 20, 2002 that its common stock was subject to delisting from the NASDAQ SmallCap Market for failure to comply with the $1 per share minimum bid price requirement for continued listing set forth in Marketplace Rule 4310(c)(4).
In reaching its decision, the panel determined that ebix has evidenced compliance with the minimum bid price requirement by demonstrating a closing bid price for its common stock of at least $1 per share for the 10 consecutive trading days ended October 14, 2002. The panel also noted that ebix appears to satisfy all other requirements for continued listing on the NASDAQ SmallCap Market and has demonstrated an ability to sustain compliance with those requirements over the long term.
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