Cumberland Technologies Inc., a Tampa, Fla.-based provider of software technology to insurance agencies, announced it has been notified that its shares will be delisted from the Nasdaq SmallCap Market at the opening of business on Sept. 13.
The notice from Nasdaq Stock Market, Inc. said Cumberland does not comply with the market value of publicly held shares for continued listing, and that the Cumberland common stock is therefore subject to delisting.
Cumberland does not intend to appeal the delisting notice. It is instead seeking arrangements for a broker-dealer to make a market in the company’s shares on the Nasdaq OTC Bulletin Board.
Cumberland and its subsidiaries provide advanced software technology to insurance agencies, which focus on the selling and delivery of surety insurance products to consumers. Through our insurance subsidiaries, we provide Performance and Payment surety bonds for the construction industry and Commercial surety bonds to federal and local government agencies.
In addition to its Tampa headquarters, Cumberland has offices in Atlanta, Ga.; Greenville, S.C.; Dallas, Texas; Phoenix, Ariz. and Redondo Beach, Calif.
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