Quotesmith.com may call a special meeting of stockholders to vote on a one-for-six reverse stock split, if such a meeting becomes necessary in order to maintain Nasdaq’s minimum bid price of $1. The Company’s common stock has failed to maintain the minimum bid price for thirty consecutive trading days and is currently out of compliance with current Nasdaq listing requirements. Nasdaq has notified the company that the it’s common stock must maintain a minimum bid price of $1 for ten consecutive trading days prior to March 13, 2001 in order to regain compliance with Nasdaq listing regulations.
Was this article valuable?
Here are more articles you may enjoy.